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7 Cards in this Set
- Front
- Back
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Which two types of IBs are limited to doing business through only one CB? |
Types 1 and 2. |
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What is the minimum risk-adjusted capital (RAC) requirement for a Type 1 IB? |
$75,000 |
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Which party is responsible for client margining under Types 1 and 2? |
The carrying broker. |
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Under what type of arrangement is the IB responsible for the segregation of client free credit balances? |
The omnibus account records all trading activity on behalf of the serviced broker. |
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An exemption in IIROC Rule 35.6 allows CBs to enter into an IB/CB relationship with a foreign affiliate. Under this exemption, what must the foreign affiliate of the CB do? |
Assume responsibility for compliance with IIROC Rules. |
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What type of IB shares equal responsibility for client supervision regarding KYC rules? |
Type 1. |
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What is an investment dealer who contracts out recordkeeping, clearing, settlement and custody functions to another dealer? |
Introducing Broker |
