Authorization Categories and Specific Tasks
Here is a list of all of the tasks that a broker can be authorized to perform in a client's account. The list is organized by category just as on the actual authorization form.
Authorization to Update or Change Account Information, Account Settings, Trading Permissions and Tax Forms:
- Change Account Info (Name & Address, Email, Phone Number, Legal Residence, Mailing address, Personal Info, Employment Info, Financial Information, Regulatory Information, Trading objectives,
- Change trading permissions and products
- Change account settings (Base Currency, Account Type)
- View and change account forms and tax forms.
- W8/W9 functions
- Change Investor Category (QIB, Accredited Investor, etc)
- Statement/Confirm Delivery Settings
- Trading Configuration
- Market Data
- Market Data Subscriber Status
- Alert Notification
- Paper Trading Account
Authorization to Provide Banking and Transfer Instructions
- Create Deposit Notification
- Submit Position Transfers
- Make Internal Transfers
- Provide Settlement Instructions
Authorization to Send Third Party Payments and Wires
- Transmit payments or assets from the client account to third parties including wire transfers, ACH transfers and other transfers of funds or assets.
- Place limits on this authority by specifying a maximum amount and time period in months. For example, no more than $5,000 per 3 month period.
Authorization to Vote Shares and Make Elections Regarding Positions (does not affect Account Management)
- Corporate Actions should be sent to the broker not the client.
- Proxy delivery and voting will be done by the brokerr not the client.
Authorization for Special Programs and Alternative Investments
- Hedge Fund Capital Introduction Program Agreement
- Enroll or un-enroll in the Stock Yield Enhancement Program
