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Why do I have to disclose personal information to open an optionsXpress account?

April 26, 2017account disclose optionsxpress

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Why do I have to disclose personal information to open an optionsXpress account?

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Due to regulatory requirements and the United States government’s efforts to fight terrorism and fraud, U.S. brokerages have been required to obtain, verify and record information about persons who open accounts and certain individuals related to them, including account signatories (in the case of entity accounts) and persons authorized to trade on behalf of accounts (LTAs). For more information please see the Customer Identification Program Notice from FINRA.