Series 51: Transfer Execution

Transfer Execution

Within three business days following the validation of a transfer instruction, the carrying party must complete the transfer of the account to the receiving party.

Nontransferable assets. If the customer’s account includes any nontransferable assets, the carrying party must request further instructions from the customer as to how to dispose of the assets. The request must be in writing and done prior to or at the time of validation. The customer must decide between (1) liquidating the assets, (2) retaining them with the carrying party,