SIE: Outside Transactions For Or By Associated Persons

Outside Transactions for or by Associated Persons

Employees of member firms may open investment accounts at other member firms, provided that they notify both the employer member firm and the other firm—that is, the executing member firm.

The executing member firm in turn must:

• • Notify the employer member firm in writing that it has opened an account before executing any transactions
• • Notify the employee that it will be providing account information to the employer member firm
• • Provide duplicate account statements to the employer member if requested

Though it does not need to seek prior approval from the member f