Portfolio Connection Brokerage Account - Union Bank
Portfolio Connection Brokerage Account - Union Bank
Portfolio Connection Brokerage Account - Union Bank
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margin. The <strong>Bank</strong> or its affiliates will provide me with statements/<br />
confirmations for the securities and other assets that it or they<br />
safekeep on my behalf. Separate fees may apply.<br />
K. Notice to Customers<br />
Financial Industry Regulatory Authority (FINRA) Rule 4311 requires<br />
that the allocation between Investment Services and NFS of certain<br />
functions regarding the administration of my <strong>Portfolio</strong> <strong>Connection</strong><br />
<strong>Brokerage</strong> <strong>Account</strong> be disclosed to me. The following is a summary<br />
of the allocation services performed by Investment Services and<br />
NFS. A more complete description is available upon request.<br />
Investment Services is responsible for:<br />
(1) Obtaining and verifying <strong>Portfolio</strong> <strong>Connection</strong> <strong>Brokerage</strong> <strong>Account</strong><br />
information and documentation<br />
(2) Opening and approving my <strong>Portfolio</strong> <strong>Connection</strong> <strong>Brokerage</strong><br />
<strong>Account</strong><br />
(3) Transmitting timely and accurate instructions to NFS with<br />
respect to my <strong>Portfolio</strong> <strong>Connection</strong> <strong>Brokerage</strong> <strong>Account</strong><br />
(4) Determining the suitability of investment recommendations<br />
and advice that Investment Services provides<br />
(5) Operating and supervising my <strong>Portfolio</strong> <strong>Connection</strong> <strong>Brokerage</strong><br />
<strong>Account</strong> and its own activities in compliance with applicable<br />
laws and regulations, including compliance with margin rules<br />
pertaining to my margin account<br />
(6) Maintaining the required books and records for the services<br />
it performs, and<br />
(7) Advising me of margin requirements and ensuring that my<br />
account remains in compliance with applicable federal, selfregulatory,<br />
industry and NFS margin requirements if I have a<br />
margin account.<br />
NFS shall, at the direction of Investment Services:<br />
(1) Execute, clear and settle transactions processed through NFS by<br />
Investment Services<br />
(2) Prepare and send transaction confirmations and periodic<br />
statements of my <strong>Portfolio</strong> <strong>Connection</strong> <strong>Brokerage</strong> <strong>Account</strong><br />
(unless Investment Services has undertaken to do so)<br />
(3) Act as custodian for funds, securities and other property received<br />
by NFS on my behalf<br />
(4) Follow the instructions of Investment Services with respect to<br />
transactions and the receipt and delivery of funds and securities<br />
for my <strong>Portfolio</strong> <strong>Connection</strong> <strong>Brokerage</strong> <strong>Account</strong>, and<br />
(5) Extend margin credit for purchasing or carrying securities<br />
on margin if I have been approved for margin borrowing.<br />
Investment Services is responsible for ensuring that my <strong>Portfolio</strong><br />
<strong>Connection</strong> <strong>Brokerage</strong> <strong>Account</strong> is in compliance with federal,<br />
industry and NFS margin rules, and for advising me of margin<br />
requirements. NFS shall maintain the required books and records for<br />
the services it performs. Certain pricing and other information may<br />
be provided by Investment Services or obtained from third parties,<br />
which have not been verified by NFS.<br />
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