SEC Rule 17f-2: Fingerprinting Of Securities Industry Personnel

SEC Rule 17f-2: Fingerprinting Of Securities Industry Personnel

Under SEC Rule 17F-2, every member of a national securities exchange, broker, dealer, registered transfer agent and registered clearing agency, and national securities association (as well as others), shall require that each of its partners, directors, officers, and employees be fingerprinted and submit appropriate and complete fingerprint cards to FINRA. FINRA then transmits these fingerprints and identifying information to the FBI to identify and process, consistent with protocols and requirements established by the Attorney General. Who is Required to be Fingerprinted? SEC Rule 17f-2 requires that the following associated persons be fingerprinted: Persons applying for registration. A fingerprint card must Read more about SEC Rule 17f-2: Fingerprinting Of Securities Industry Personnel[…]

Reporting And Inquiry for Lost, Counterfeit, Missing, and Stolen Securities

Reporting And Inquiry for Lost, Counterfeit, Missing, and Stolen Securities

SEC Rule 17f-1 calls for the SEC or its designee, currently the Securities Information Center (SIC), to maintain records of lost, counterfeit, missing, or stolen securities. This rule was created in an effort to reduce trafficking in lost, stolen, missing, and counterfeit securities. The database of securities maintained by the SIC can only be accessed by registered BDs and other financial institutions to ascertain if securities that have come into their possession have been reported as lost, stolen, missing, or counterfeit. No Criminal Action Suspected Upon discovery of the likely loss of a security, if no criminal action is suspected, Read more about Reporting And Inquiry for Lost, Counterfeit, Missing, and Stolen Securities[…]