Illinois Administrative Code
Title 14 - COMMERCE
Part 130 - REGULATIONS UNDER ILLINOIS SECURITIES LAW OF 1953
Subpart H - REGISTRATION OF DEALERS, SALESPERSONS, INVESTMENT ADVISERS AND INVESTMENT ADVISER REPRESENTATIVES
Section 130.850 - Account Transactions

Universal Citation: 14 IL Admin Code ยง 130.850

Current through Register Vol. 48, No. 12, March 22, 2024

a) No dealer or salesperson shall effect transactions for any customer's account which are excessive in size or frequency or unsuitable in view of the financial resources of the customer.

b) No dealer shall effect any transaction of purchase or sales unless immediately after effecting the transaction the dealer makes a record of the transaction which record includes the name of the customer, the name, amount and price of the securities, and the date and time when the transaction took place.

c) Each dealer shall keep or preserve, for at least 3 years, records as the dealer may be required to make pursuant to the provisions of paragraph (b) of this section.

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