An Investment Dealer acts solely as a carrying broker for another firm, providing only clearing and settlement services. According to IDPC Rule 3303, what is the firm's obligation regarding Product Due Diligence (Rule 3301)?

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Accepted Answer

Correct. Rule 3303(1) exempts Dealer Members from Rule 3301 (Product Due Diligence) when they act as carrying brokers or provide only execution, clearing, settlement, or custody.

An Investment Dealer acts solely as a carrying broker for another firm, providing only clearing and settlement services. According to IDPC Rule 3303, what is the firm's obligation regarding Product Due Diligence (Rule 3301)?

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