Cal. Code Regs. Tit. 10, § 260.218.6 - Discretionary Authority
Current through Register 2022 Notice Reg. No. 16, April 25, 2022
No broker-dealer and no agent employed by such broker-dealer shall exercise any discretionary power or authority for any customer unless such customer has given prior written authorization to exercise such power or authority to a stated individual who is a broker-dealer or agent, and has indicated the reasons for such authorization. This Section does not apply to transactions in which the broker-dealer's discretion is limited to the price at which or the time when an order given by a customer for the purchase or sale of a definite amount of a specified security shall be executed.
Note: Authority cited: Section 25610, Corporations Code. Reference: Section 25218, Corporations Code.
The following state regulations pages link to this page.
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.