12 CFR 368.5
§ 368.5 Customer information.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 368.5, § 368.5 Customer information, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/47111
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Full text
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 such bank in making recommendations to the customer.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.