15 CSR 30-59.140 - Confirmations

PURPOSE: This rule requires broker-dealers to confirm transactions in customers' commodities.

(1) Confirmations by broker-dealers of all purchases and sales of commodities and notices of all other debits and credits for securities, cash and other items for the account of customers, officers, agents, partners and employees shall be given or sent to such persons at or before completion of each transaction and shall disclose at least the following:

(A) The account for which entered;

(B) Instructions, terms and conditions, including price, quantity and description of the transaction whether executed or unexecuted;

(C) Date of execution of transaction (Time of trade shall be furnished upon request.);

(D) Whether the broker-dealer is acting for its own account, as agent for some other person or as an agent for both the customer and some other person;

(E) If a broker-dealer is acting as agent for the customer, the following additional information or a statement that the information will be furnished upon request:

1. The name of the person from whom the security was purchased or to whom it was sold, the date and time the transaction occurred; and

2. Source and amount of commission or remuneration received or to be received in connection with the transaction;

(F) Name or identification number of sales representative handling transaction;

(G) Whether the transaction was solicited or unsolicited; and

(H) Whether the broker-dealer is a market maker or has holdings in the commodity in excess of one (1) million dollars.

Notes

15 CSR 30-59.140

AUTHORITY: sections 409.858(6) and 409.863, RSMo 1986.* This rule was previously filed as 15 CSR 30-60.090. Emergency rule filed Oct. 2, 1985, effective Oct. 12, 1985, expired Feb. 9, 1986. Original rule filed Aug. 22, 1986, effective Jan. 30, 1987.

*Original authority: 409. 858, RSMo 1985 and 409.863, RSMo 1985.