Series 22: Nontransferable Assets

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 among (1) liquidating the assets, (2) retaining them with the carrying party, (3) transferring them to the customer, and (4) transferring them to the third party that is the original source of the