Regulations last checked for updates: May 18, 2024

Title 12 - Banks and Banking last revised: May 14, 2024
§ 13.5 - Customer information.

Prior to the execution of a transaction recommended to a non-institutional customer, a bank that is a government securities broker or dealer shall make reasonable efforts to obtain information concerning:

(a) The customer's financial status;

(b) The customer's tax status;

(c) The customer's investment objectives; and

(d) Such other information used or considered to be reasonable by the bank in making recommendations to the customer.

authority: 12 U.S.C. 1
source: 62 FR 13283, Mar. 19, 1997, unless otherwise noted.
cite as: 12 CFR 13.5