FINRA Manual: Contents
|View Whole Section||Text only||Print Manager||Link|
Rule 430 Partial Delivery of Securities to Customers on C.O.D. Purchases
This rule is no longer applicable.
No member organization may accept from a customer a purchase order for any security, other than obligations of the United States Government, unless it has first ascertained that the customer placing the order or its agent will receive against payment securities in an amount equal to any execution confirmed to the customer, even though such an execution may represent the purchase of only a part of a larger order.
Every member organization carrying accounts must have a supervisory designee personally check at the working level that: