Account
(a) Account. For purposes of 1023.220: (1) Account means a formal relationship with a broker-dealer established to effect transactions in securities, including, but not limited to, the purchase or sale of securities and securities loaned and borrowed activity, and to hold securities or other assets for safekeeping or as collateral. (2) Account does not include: (i) An account that the broker-dealer acquires through any acquisition, merger, purchase of assets, or assumption of liabilities; or (ii) An account opened for the purpose of participating in an employee benefit plan established under the Employee Retirement Income Security Act of 1974.