NASD has received a large number of requests regarding the adequacy of payment of transfer fees to third parties that will introduce or relay potential customers to the company, including questions about the possibility of making such payments to bank employees. In order to clarify the NASD`s position and make it available to all members, the Council accepted the invitation to comment on the proposed rule. 7. Disqualifications and due diligence. Before entering into a referral agreement, consultants should conduct a substantive review of the potential lawyer. The cash solicitation rule (Rule 206 (4)-3) prohibits the payment of cash transfer fees to everyone: in some states, ethical rules for lawyers are even more prohibitive. For example, in New York, Maine, Texas and Pennsylvania, state bars prohibit lawyers from receiving money transfer fees from investment advisors. Other states allow removal agreements, but limit circumstances and require advertising. Acorns will only credit your Acorns Invest account with premium shares when the referring client and the returned customer have met all the eligibility criteria under the terms of the respective recommendation action, which will vary depending on the promotion. After each referendum client (1) has opened a type of Acorns portfolio account indicated by the corresponding recommendation action (2) pays an initial investment amount of at least USD 5 into such an account, (3) retains the ETF shares that Acorns acquired on your behalf with the initial investment, For at least 30 days and (4) if applicable, the type of subscription paid to Acorns for the number of billing periods indicated in the corresponding recommendation action, Acorns will credit your Acorns Invest account with the amounts and types of premiums corresponding to your selected portfolio and together worth the premium amount at the time of the purchase of the shares at the time of the purchase of the premium amount. You acknowledge and accept that, notwithstanding other points of this agreement or program agreement, you are not entitled to premium shares for a recommendation (i) unless the new potential client is accepted as a referenced customer; (ii) unless the referendum client invests the minimum amount of USD 5 and retains the ETF shares acquired from his Acorns portfolio account for at least 30 days; (iii) unless: the customer concerned remains at the subscription level for the number of billing cycles, if indicated in the action of the respective recommendation, (iv) if Acorns finds at its sole discretion that you have breached a clause, condition, obligation, obligation, commitment, commitment, commitment, representation or guarantee in this Agreement (see section 3 below on compliance; and (v) unless you invite a client who uses the links provided by Acorn in the request for recommendations.
In addition, if the recommendation action requires that you have an initial investment in an Acorns portfolio account and/or subscribe to a particular Acorns subscription plan for a minimum of billing cycles, Acorns will not credit your Acorns Invest account with premium quotas, unless you meet such requirements. Acorns may, at its sole discretion, make certain promotions with different premium amounts available to other Acorns users or potential users. These promotions, if not offered to you, have no influence on your agreement or relationship with Eichen. 4. Do not check whether the solicitor is complying with the agreement. Another common defect is the inability of an advisor to verify that the lawyer is complying with the terms of the appeal agreement.