Customer relationship
(1) Customer relationship means a continuing relationship between a consumer and you under which you provide one or more financial products or services to the consumer that are to be used primarily for personal, family, or household purposes. (2) Examples(i) Continuing relationship. A consumer has a continuing relationship with you if: (A) The consumer has a brokerage account with you, or if a consumer's account is transferred to you from another broker-dealer; (B) The consumer has an investment advisory contract with you (whether written or oral); (C) The consumer is the record owner of securities you have issued if you are an investment company; (D) The consumer holds an investment product through you, such as when you act as a custodian for securities or for assets in an Individual Retirement Arrangement; (E) The consumer purchases a variable annuity from you; (F) The consumer has an account with an introducing broker or dealer that clears transactions with and for its customers through you on a fully disclosed basis; (G) You hold securities or other assets as collateral for a loan made to the consumer, even if you did not make the loan or do not effect any transactions on behalf of the consumer; or (H) You regularly effect or engage in securities transactions with or for a consumer even if you do not hold any assets of the consumer. (ii) No continuing relationship. A consumer does not, however, have a continuing relationship with you if you open an account for the consumer solely for the purpose of liquidating or purchasing securities as an accommodation, i.e., on a one time basis, without the expectation of engaging in other transactions.