Important reminder:
Equity Services, Inc. (ESI) is not permitted to hold client assets such as security/stock certificates and funds, or to act in any role that grants ESI or its representatives legal ownership control, or access to client funds or securities.
If a branch office or Field OSJ receives funds (such as a check made payable to ESI, a representative, or a DBA) securities (such as a stock or bond certificates) from a client, the office must:
- Promptly record receipt of the item(s) on its Checks Received/Transaction blotter and,
- Return the item(s) to the client by noon of the next business day following receipt.
Click here to read the complete Field Notice: Field Notice 2024-10