Depositing Money into a Brokerage Account
Utilize this new digital flyer for clients on Depositing Money into a Brokerage Account.
Equity Services Inc. has prepared a new digital and download-friendly piece with instructions on the process for depositing money into a brokerage account. Click here to access the file, Catalog # 106629(0423).
Updates from Brokerage Operations
NFS Forms Update – CAT/CAIS Regulatory Requirements
ESI is required to report activity in Eligible Securities to the FINRA Consolidated Audit Trail (CAT) system. CAT tracks orders throughout their life cycle and identifies the broker-dealers handling them, thus allowing regulators to efficiently track activity in these Eligible Securities throughout the U.S. markets. The CAT Customer & Account Information System (CAIS) is a separate system for the submission of customer and account data, which is combined with the order reporting information.
Over the next few weeks, many NFS Brokerage Account forms will be updated in order to support CAT/CAIS regulatory requirements. All Applications, and other authorization forms, have been revised with the following:
- Updated Taxpayer ID Number field to capture ITIN and EIN.
- Added spaces to indicate if the account holder is an Accredited Investor (SEC.gov Accredited Investor Definition), employed/associated with a Registered Investment Adviser or a Broker-Dealer
- Updated Entity Account Information to include a space to indicate whether the entity is an Accredited Investor, Registered Investment Adviser, Registered Investment Company, or a Broker-Dealer.
Forms will be updated to provide checkboxes allowing customers to provide this info. Boxes only need to be checked if these definitions apply to the customer. Form updates will include:
- Brokerage Account Application
- 529 Plan Account Application
- Premiere Select Health Savings Account Application
- Premiere Select IRA Application
- Premiere Select SIMPLE IRA Application
- Corporate and Unincorporated Resolution
- Limited Liability Company Agreement
- Partnership Account Agreement
- Trustee Certification of Investment Power
- Durable Power of Attorney Affidavit and Indemnification
- Trading Authorization Forms
If you have questions on these form updates, please contact the Brokerage Service Desk at 1-800-344-7437.
TC132556(0323)1