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Aug 1 2006 - Dec 4 2011Dec 5 2011 onwards

IM-3110. Customer Account Information

This rule is no longer applicable. NASD IM-3110 has been superseded by FINRA Rule 4510 Series. Please consult the appropriate FINRA Rule.

(a) Members should be aware that any transaction that involves a non-exchange-listed equity security trading for less than five dollars per share may be subject to the provisions of SEC Rules 15g-1 through 15g-9, and those rules should be reviewed to determine if an executed customer suitability agreement is required.

(b) Additional information is required to be obtained prior to making recommendations to customers (see Rule 2310) and in connection with discretionary accounts (see Rule 2510).

(c) Accounts opened, and recommendations made prior to January 1, 1991 remain subject to former Article III, Sections 2 and 21(c) as previously in effect as set forth in Notice to Members 90-52 (August 1990).
Amended by SR-NASD-2005-087 eff. Aug. 1, 2006
Amended by SR-NASD-2006-037 eff. July 3, 2006
Adopted by SR-NASD-2003-104 eff. May 1, 2006.

Selected Notice: 05-67.

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