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Robert W Cummings wrote:
> Know your customer rule becomes impossible using
> the Internet for these firms given the amount of new accounts opened daily
> on-line.
Why? When I opened an account with ETrade - the account application (for general
trading and level I and II options trading) was just about the same I had to
complete to open other "offline" brokerage accounts. Plus - the account
application had to be signed and mailed - not simply emailed back to the company.
And then I had to wait for the account application to be approved before I could
do anything.
Perhaps what you're saying is that there are some online firms around that are too
sloppy to follow standard practices when it comes to opening accounts. Robyn
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