Our securities broker has requested that they add a tag line to our brokerage statements as follows:

"Your banking representative is ______________".

This would be on their regular brokerage and investment advisory statements. It would not be a combination bank/brokerage acct but purely brokerage or investment advisory. From a banking perspective, are there any issues? It may not be the name of someone in the bank licensed to sell securities. We're uncomfortable with doing this but just want to be sure we aren't overreacting. Thanks!

Thought I would bump up to see if anyone might have a thought on this. Unless the banking rep is licensed, they wouldn't be able to discuss brokerage issues with a customer would they?

Unless the persons discussing NDIP's with the client holds the proper registration (Series 6, 7 or whatever is appropriate to the securities being discussed), I think you have a problem with NASD Conduct rules and potential securities violations.

I suggest you go to www.nasdr.org and review the conduct rules for a specific cite.