See All of This Company's Exhibits
EX-99.3(D)
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a71651ex99-3d.txt
EXHIBIT 3(D)
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EXHIBIT (3)(d)
FARMERS FINANCIAL SOLUTIONS
REGISTERED REPRESENTATIVE AGREEMENT
This Agreement is entered into as of the _______ day of _____________,
20__, by and between Farmers Financial Solutions, LLC, a Nevada limited
liability company ("Broker/Dealer") and ________________________________________
(Registered Representative ("RR")).
WHEREAS, Broker/Dealer is a securities broker/dealer registered and
qualified to transact business pursuant to rules and regulations promulgated by
the Securities and Exchange Commission (the "SEC") and the National Association
of Securities Dealers, Inc. (the "NASD") and certain state securities
regulators;
WHEREAS, RR is duly qualified and licensed to sell various securities
products, including variable life insurance policies, variable annuity contracts
and mutual funds (together, "Investment Products"); and
WHEREAS, the parties mutually desire to enter into this Agreement so
that RR may sell Investment Products on behalf of Broker/Dealer;
NOW THEREFORE, in consideration of the mutual promises, covenants and
conditions as hereinafter set forth, the parties hereto agree as follows:
ARTICLE I
AUTHORIZATION
Broker/Dealer hereby authorizes RR to become one of its registered
representatives and to execute securities transactions, including Investment
Product sales, exclusively through it. RR hereby accepts that authorization. RR
is not granted any exclusive geographic territory for Investment Product sales.
ARTICLE II
REGISTERED REPRESENTATIVE'S OBLIGATIONS
SECTION 2.1 COMPLIANCE WITH LAWS, RULES, REGULATIONS, ETC. All RR's
activities in connection with the offer and sale of Investment Products shall
conform to the requirements of state and federal securities laws, rules,
regulations and interpretive guidance, the Conduct Rules of the NASD, Securities
and Exchange Commission, State Securities Regulators, and state insurance laws,
rules, regulations and interpretive guidance.
SECTION 2.2 LICENSING AND REGISTRATION. RR shall remain (a) registered
with the NASD and any applicable state securities regulatory authority, if
necessary, and (b) licensed as an insurance agent with authority to sell
Investment Products in any state in which he or she will sell such Products. RR
shall take all steps necessary to keep all such registrations and licenses in
force during the term of this Agreement.
SECTION 2.3 COMPLIANCE MANUAL. RR will familiarize himself with, and
will comply with, all the requirements set forth in the RR Compliance Manual
(the "Compliance Manual"), as it may be amended from time to time or
supplemented by compliance memoranda from Broker/Dealer supervisory personnel.
Without limiting the generality of the preceding sentence,
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RR shall comply with the customer complaint procedures and the filing and
recordkeeping requirements set forth in the Compliance Manual.
SECTION 2.4 MATERIAL STATEMENTS OR OMISSIONS. RR will not (a) make any
material statements, either oral or written, regarding Investment Products which
are untrue or misleading, or (b) omit a material fact necessary in order to make
any oral or written statements regarding Investment Products, in the light of
the circumstances under which they were made, not misleading.
SECTION 2.5 INVESTMENT PRODUCTS OFFERED. RR shall offer and sell only
those Investment Products offered by Broker/Dealer, for which they are qualified
and shall not engage in any private securities transactions without prior
written approval from Broker/Dealer.
SECTION 2.6 OUTSIDE ACTIVITIES FORM. RR shall complete the "Outside
Business Activities Form" attached hereto as Exhibit A, and will update the Form
as requested by Broker/Dealer or at any meeting and promptly when any
significant additions or changes to the information disclosed on the Form arise,
including new employers or sources of income, or significant changes in the
amount of income from a previously specified source.
SECTION 2.7 CHANGES TO FORM U-4. RR shall immediately notify
Broker/Dealer of any changes of information in his or her registration on Form
U-4, including any changes to his or her address or telephone number.
SECTION 2.8 EDUCATION AND TRAINING MEETINGS. RR shall attend all
mandatory educational and/or training meetings scheduled by Broker/Dealer.
SECTION 2.9 SUPERVISION OF EMPLOYEES. RR shall take such steps as are
necessary to ensure that none of his or her employees engage in any unauthorized
securities activities.
SECTION 2.10 AGENT INSPECTION AND AUDIT. RR shall permit Broker/Dealer
and its designated representatives the right, at any reasonable time during
normal business hours and without prior notice, to inspect, review and audit
RR's business and records including but not limited to, interviewing and
surveying RR's personnel and clients, reviewing bank and trust account records,
applications and records of insurance. RR shall cooperate fully with the
Broker/Dealer in any such inspection or audit.
SECTION 2.11 INDEMNIFICATION. RR hereby agrees to indemnify, protect,
defend and hold harmless Broker/Dealer, its successors, assigns, directors,
officers, employees, agents and affiliates from and against any and all
liabilities, obligations, losses, damages, claims, demands, proceedings, suits,
actions, expenses (all of which are herein after referred to as "Claims"),
including reasonable attorneys' fees and costs, incurred by Broker/Dealer in
connection with the activities of RR hereunder, including, without limitation,
the following:
1. Failure of any customer of RR (1) to make payment when due for
securities, insurance products or advisory services purchased or
to deliver when due securities sold for the account of the
customer, (2) to meet any initial or any maintenance margin
call, or (3) to fulfill his/her obligations to Broker/Dealer
(whether or not such failure is within RR's control).
2. Any dishonest, fraudulent, negligent or criminal act or omission
on the part of RR.
3. The breach by RR of any of his/her warranties or obligations
under this Agreement.
4. Any liability arising from Broker/Dealer's guarantee of any
signature with respect to transactions in the accounts of a
customer of RR.
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5. Any liability owed to any customer of RR or any loss suffered by
any such customer.
6. Any delay by RR in transmitting an order.
7. Violation by RR of any applicable rule, regulation or policy of
any Regulatory authority or any rule, regulation or policy of
Broker/Dealer (including the Compliance Guide and the Compliance
Memoranda).
8. Any unauthorized act, statement or transaction of RR which is
the subject of a complaint, order, claim, charge or other
document seeking redress against Broker/Dealer.
9. Any liability arising from outside activities engaged in by RR.
10. Any costs, fees or expenses incurred or paid by Broker/Dealer on
behalf of RR or RR's customers.
SECTION 2.12 ADVERTISEMENTS. RR shall not publish or use any
advertisements or sales literature regarding Broker/Dealer or the
securities, insurance products or advisory services offered through
Broker/Dealer or Broker/Dealer's name in the telephone listing or
directory, without the prior written approval of a Designated
Supervisory Employee of Broker/Dealer. Nothing in any such approval
shall be construed to make Broker/Dealer liable for the cost of any such
listings or other media of advertising.
SECTION 2.13 NOTIFICATION REQUIRED. RR shall immediately notify
Broker/Dealer of:
a. any action or fact which comes to his or her knowledge
which may possibly constitute a violation of any law;
b. any investigations or inquiries by governmental
agencies;
c. any judicial proceeding relating to RR's services
hereunder;
d. loss or suspension of RR's insurance license or
securities registration to sell Investment Products; and
e. any other events as required under the Compliance
Manual.
ARTICLE III
NATURE OF THE RELATIONSHIP
SECTION 3.1 INDEPENDENT CONTRACTOR. Nothing contained herein is intended
or shall be construed to create the relationship of employer and employee;
rather, the RR is an independent contractor for all purposes. The time to be
expended by the RR is solely within the RR's discretion, and the persons to be
solicited and the area wherein solicitation shall be conducted is at the
election of the RR. The RR shall, as an independent contractor, exercise sole
right to determine the time, place and manner in which the objectives of this
Agreement are carried out, provided only that the RR conform to normal good
business practices, the Code of Ethics as adopted by the Broker/Dealer and to
all State and Federal laws governing the conduct of the Broker/Dealer and its
RRs.
SECTION 3.2 TAXES, ETC. Payments under the Federal Insurance
Contribution Act, the Federal Unemployment Contributions Act, state and federal
income tax, and state workmen's compensation shall be the sole responsibility of
the RR.
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SECTION 3.3 UNIQUE AGREEMENT. RR's agreement and relationship with the
Broker/Dealer is unique and separate from any agreement the Broker/Dealer may
have with any other person. RR's rights and obligations with respect to the
Broker/Dealer are entirely dependent on this Agreement.
SECTION 3.4 STATUS OF RR'S EMPLOYEES. RR acknowledges that any persons
that he or she employs for assistance shall be an employee of RR, and not of
Broker/Dealer.
ARTICLE IV
COMPENSATION
SECTION 4.1 COMPENSATION SCHEDULE. RR's sole compensation as a
registered representative from Broker/Dealer shall be in the form of
compensation earned from Investment Product sales and service. The compensation
schedule attached hereto as Exhibit B sets forth the compensation to be paid to
RR for Investment Product sales. The compensation schedule may be revised with
or without notice, at the sole discretion of Broker/Dealer, and any such updates
or revisions may be published in RR guides and manuals, notices, bulletins or
other Broker/Dealer literature. Commissions shall be paid in accordance with the
schedule then in effect when the securities in question are issued.
SECTION 4.2 WAIVER UNTIL BROKER/DEALER IN RECEIPT OF COMPENSATION. RR
waives any right to compensation until Broker/Dealer is in receipt of such
compensation from any issuing insurance company, distributor, or other
investment sponsor. Compensation will be payable by Broker/Dealer or its parent
or affiliated companies.
SECTION 4.3 PAYMENT AFTER TERMINATION. If this Agreement is terminated
and RR is subject to "disqualification," as that term is defined by the rules
and bylaws of the NASD's, then no compensation will be paid to RR following the
termination of this Agreement. If the Agreement is terminated and RR is not
subject to "disqualification," compensation will be paid to RR that resulted
from sales and servicing of Investment Products during the term of this
Agreement.
SECTION 4.4 PAYMENT AFTER TERMINATION DUE TO DEATH OR DISABILITY. If
this Agreement is terminated by reason of the death or total disability of RR,
Broker/Dealer shall pay to the legal representative of the deceased RR or to the
former RR, as the case my be, all compensation which results from sales and
servicing of Investment Products during the term of this Agreement. The
compensation rate shall be the same rate the RR was receiving at the time of his
or her death or disability.
SECTION 4.5 SUSPENSION OF COMPENSATION -- REGULATORY ELEMENT/FIRM
ELEMENT. If RR has failed to comply with the "Regulatory Element" of the NASD's
continuing education requirements in a timely manner, his or her registration
shall be deemed to be inactive. RR shall not receive any compensation from
Investment Product sales, nor may he/she engage in any such sales activities
during the time that RR's registration is deemed inactive. RR may not receive
any service compensation during such time.
SECTION 4.6 SUSPENSION OF COMPENSATION -- BROKER/DEALER DETERMINATION.
In the event that RR has failed to comply with obligations imposed on him by
Broker/Dealer under the terms of this Agreement or any other compliance,
training or procedure manuals, Broker/Dealer may determine to refuse to pay RR
for sales and servicing of Investment Products.
SECTION 4.7 RIGHT OF OFFSET. The Broker/Dealer hereby reserves the right
to offset any balances due the RR under this Agreement against any balances due
from the RR whether under this Agreement, and to remit balances due the RR net
of available offsets. In the event of such net remittance, the Broker/Dealer
shall account for the same in such detail as reasonably allowed the RR to
identify all balances settled.
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SECTION 4.8 DECLINATION OR RESCISSION OF BUSINESS -- SHARING
COMMISSIONS. This Agreement is subject to the right of Broker/Dealer to decline
acceptance of or rescind any business not acceptable to it. It is understood
that RR will not share any part of his/her commission with any person not duly a
registered representative of the Broker/Dealer.
SECTION 4.9 REFERRAL BUSINESS. If the sale of any of the products
offered by the Broker/Dealer results from a referral, the commissions and
service fees to the selling agent (RR) shall be eighty (80%) percent of the
listed commissions and service fees. If the referring agent (RR) is properly
licensed and contracted with the Broker/Dealer on the date any such sale is
made, the referring agent (RR) shall receive twenty (20%) percent of the listed
commissions and service fees. The RRs agree that the Broker/Dealer's
determination as to whether the sale of any products resulted from a referral,
shall be final and binding. Notwithstanding the foregoing, the selling agent and
referring agent, assuming both are properly registered with the Broker/Dealer on
the date of product sale, may agree to any other split of commissions they
choose so long as both agree to it in writing and such agreement appears with
the submitted original product application(s).
ARTICLE V
EXPENSES
RR shall be solely responsible for all expenses related to Investment
Product activities, including but not limited to, travel, entertainment, office
expense, telephone, education, licensing, registration and renewal fees.
ARTICLE VI
CONFIDENTIALITY; PROPRIETARY MATERIALS
SECTION 6.1 CONFIDENTIALITY. In the course of RR's duties, he or she may
be handling financial, accounting, statistical and marketing information,
customer lists, schedules and other confidential information relating to
Broker/Dealer and its affiliates. All such information shall be kept
confidential and shall not be disclosed, directly or indirectly, to third
parties or used by RR in any way, either during the term of this Agreement or at
any time thereafter, except as may be required in the course of his or her
duties under this Agreement or as required by law.
SECTION 6.2 RETURN OF MATERIALS. Upon termination of this Agreement, the
RR will promptly deliver to Broker/Dealer, all material provided by
Broker/Dealer without retaining any copies or excerpts thereof, including the
Compliance Manual, any other manuals, compliance memoranda, prospectuses,
statements of additional information, advertising, sales materials, business
cards and letterhead.
ARTICLE VII
TERM, TERMINATION AND SURVIVABILITY
SECTION 7.1 EFFECTIVE DATE AND TERM. The effective date of this
Agreement is as first above written and shall continue until terminated by any
party.
SECTION 7.2 TERMINATION. This Agreement shall terminate effective
immediately upon the termination of RR's Agent Appointment Agreement with the
entities comprising the Farmers Insurance Group of Companies(R). This Agreement
may be terminated in writing by either party at any time with or without cause.
Such termination in writing shall be deemed effective as described in Section
9.5.
SECTION 7.3 SURVIVABILITY. The agreements in Sections 4.3, 4.4, 6.1, 6.2
and Article VIII shall survive the termination of this Agreement.
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ARTICLE VIII
DISPUTE RESOLUTION
The parties agree to attempt in good faith to resolve any dispute
relating to this Agreement promptly by informal discussion. In the event the
Broker/Dealer has issued a notice of termination or terminated this Agreement
pursuant to Article VII above and RR disputes the right of the Broker/Dealer to
terminate this Agreement, then such dispute shall be submitted to binding
arbitration as set forth below.
The parties shall then agree to arbitration in accordance with
the then current rules pertaining to the NASD at Los Angeles,
California. The place of the arbitration shall be at a mutually agreed
upon place within the city limits of Los Angeles, California. Each party
will bear, equally, the cost of any arbitration fees and each party will
bear its own costs and expenses, including attorney's fees. The parties
agree that no arbitrator, under this provision, may award emotional
distress or punitive or exemplary damages and that any such award shall
be deemed void and not binding upon any party. The parties further agree
that, within 180 days after the effective date of termination, any and
all claims as to any matter to be arbitrated under this paragraph must
be made within the 180 day period or thereafter such claims are forever
barred.
ARTICLE IX
DISCLOSURE TO ASSOCIATED PERSONS
WHEN SIGNING FORM U-4
The Form U-4 contains a predispute arbitration clause. It is in
item 5 on page 4 of the form U-4. You should read that clause now.
Before signing the form U-4, you should understand the following:
1) You are agreeing to arbitrate any dispute, claim or controversy
that may arise between you and your firm, or a customer, or any
other person, that is required to be arbitrated under the rules
of the self-regulatory organizations with which you are
registering. This means you are giving up the right to sue a
member, customer, or another associated person in court,
including the right to a trial by jury, except as another
associated person in court, including the right to a trial by
jury, except as provided by the rules of the arbitration forum
in which a claim is filed.
2) A claim alleging employment discrimination, including a sexual
harassment claim, in violation of a statute is not required to
be arbitrated under NASD rules. Such a claim may be arbitrated
at the NASD only if the parties have agreed to arbitrate it,
either before or after the dispute arose. The rules of other
arbitration forums may be different.
3) Arbitration awards are generally final and binding; a party's
ability to have a court reverse or modify an arbitration award
is very limited.
4) The ability of the parties to obtain documents, witness
statements and other discovery is generally more limited in
arbitration than in court proceedings.
5) The arbitrators do not have to explain the reason(s) for their
award.
6) The panel of arbitrators may include arbitrators who were or are
affiliated with the securities industry, or public arbitrators,
as provided by the rules of the arbitration forum in which a
claim is filed.
7) The rules of some arbitration forums may impose time limits for
bringing a claim in arbitration. In some cases, a claim that is
ineligible for arbitration may be brought in court.
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ARTICLE X
MISCELLANEOUS
SECTION 10.1 ASSIGNMENT. This Agreement is for the personal services of
RR and RR may not transfer or assign this Agreement, or any right, benefit,
interest, duty or obligation hereunder. Broker/Dealer may assign this Agreement.
This Agreement will inure to the benefit of and be binding upon the parties and
each of their successors.
SECTION 10.2 ENTIRE AGREEMENT. This Agreement contains the entire
agreement and understanding of the parties with respect to the subject matter
hereof, and supersedes all prior agreements, arrangements and understandings,
written or oral, between the parties, and no waiver, modification or change of
any of its provisions will be valid unless in writing and signed by the parties
hereto, or in the case of a waiver, by the party waiving compliance.
SECTION 10.3 WAIVER. Failure of any party to enforce any provision of
this Agreement will not constitute a course of conduct or waiver in the future
of the right to enforce the same or any other provision.
SECTION 10.4 SEVERABILITY. The parties to this Agreement desire and
intend that the terms and conditions of this Agreement be enforced to the
fullest extent permissible under the laws and public policies applied in each
state or jurisdiction in which enforcement is sought. The parties agree
specifically that, if any particular term or condition of this Agreement is
adjudicated, or becomes by operation or law, invalid or unenforceable, this
Agreement will be deemed amended to delete the portion that is adjudicated, or
that becomes by operation of law, invalid or unenforceable, the deletion or
reduction to apply only with respect to the operation of the term or condition,
and the remainder of the Agreement to remain in full force and effect. A
deletion or reduction resulting from any adjudication will apply only with
respect to the operation of that term in the particular jurisdiction in which
the adjudication is made.
SECTION 10.5 NOTICE. Any notice, request, demand or other communication
required or permitted hereunder will be in writing and will be delivered in one
of the following manners: by personal delivery, which will be effective on the
day so delivered; by registered or certified mail, which will be effective three
days after mailing; by facsimile transmission, which will be effective when
receipt is electronically acknowledged from the appropriate number below; or by
a nationally recognized overnight delivery service guaranteeing next day
delivery, which will be effective on the earlier of the second business day
after timely delivery to such service or the day of actual delivery by such
service. All notices to a party will be sent to the following addresses or to
such other address or person as such party may designate by notice to each other
party hereunder:
(a) TO BROKER/DEALER:
President
Farmers Financial Solutions, LLC
2423 Galena Avenue
Simi Valley, CA 93065
with a copy to :
Vice President & General Counsel
Farmers New World Life Insurance Company
4680 Wilshire Boulevard
Los Angeles, CA 90010
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(b) TO REGISTERED REPRESENTATIVE:
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----------------------------------------
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Phone:
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Fax:
------------------------------------
10.6 GOVERNING LAW. The validity, enforceability, and interpretation of
this Agreement shall be construed according to the laws of the State of
California.
10.7 COUNTERPARTS. This Agreement may be executed simultaneously in
counterparts, each of which will be deemed an original but all of which together
will constitute one and the same instrument.
10.8 HEADINGS. The headings in this Agreement are inserted for
convenience only and will not constitute a part hereof.
10.9 FAMILY RIGHTS PROVISION. In the event of termination of the Agent
Appointment Agreement and the Agent or Agent's heirs are permitted to sell all
or any part of the agency to a member(s) of the agent's immediate family at any
time, the Broker/Dealer will give consideration to transfer or assignment of the
rights under the RR Agreement to the nominee(s), provided the nominee(s) are
acceptable to the Broker/Dealer and capable of fulfilling the duties of the
agreement within six (6) months after acceptable.
IN WITNESS WHEREOF, the parties hereto have caused this agreement to be
duly executed as of the date and year first above written.
FARMERS FINANCIAL SOLUTIONS, LLC
By:
-----------------------------------
(Signature)
Name:
---------------------------------
Title:
--------------------------------
REGISTERED REPRESENTATIVE
By:
-----------------------------------
(Signature)
-----------------------------------
(Print Name)
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EXHIBIT A
OUTSIDE ACTIVITIES FORM
BROKER/DEALER
It is hereby agreed by both Farmers Financial Solutions, LLC
("Broker/Dealer") and _______________________ ("Registered Representative"
("RR")) that the disclosures herein are not in conflict with the unique
relationship existing between Broker/Dealer and Registered Rep, but are for the
purpose of compliance with regulatory requirements.
I. OTHER LICENSES AND REGISTRATIONS
RR states that he or she currently holds the following licenses or
certificates: (Circle, if applicable).
1. Life and Disability Insurance Agent
2. Fire and Casualty Insurance Agent
3. Real Estate Broker/Salesman
4. Registered Investment Adviser
5. Certified Financial Planner
6. Chartered Financial Consultant
7. Other (please describe):
----------------------------------------
If any of the aforementioned licenses or registrations generate income for you
other than as a RR of Broker/Dealer or agent of any insurance company affiliate
of Broker/Dealer, please provide an estimate of the weekly income and the name
of any affiliated agency or firm:
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II. OTHER BUSINESS AFFILIATIONS
Please provide the information requested below on any business
affiliations you may have. Please remember to include in this section
information on any classes of seminars you may teach or conduct related to
insurance, securities, investment or other similar topics.
RR states that his or her other business affiliations are:
1. Entity Name:
-----------------------------------------------------
A. Type of Business:
------------------------------------------------
B. RR's Position or Relationship (e.g., owner, director, employee):
-----------------------------------------------------
C. Percent Ownership of Business, if any:
---------------------------
D. Hours per week:
--------------------------------------------------
E. Income per week:
-------------------------------------------------
2. Entity Name:
-----------------------------------------------------
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A. Type of Business:
------------------------------------------------
B. RR's Position or Relationship (e.g., owner, director, employee):
-----------------------------------------------------
C. Percent Ownership of Business, if any:
---------------------------
D. Hours per week:
--------------------------------------------------
E. Income per week:
-------------------------------------------------
3. Entity Name:
-------------------------------------------------------------
A. Type of Business:
------------------------------------------------
B. RR's Position or Relationship (e.g., owner, director, employee):
-----------------------------------------------------
C. Percent Ownership of Business, if any:
---------------------------
D. Hours per week:
--------------------------------------------------
E. Income per week:
-------------------------------------------------
RR agrees to notify Broker/Dealer promptly (and in any case, within
fifteen (15) days) of any significant modifications to the information disclosed
on this form, including new licenses or registrations, employers or sources of
income, or significant changes in the amount of income from a source specified
herein.
Registered Representative: Broker/Dealer:
By: By:
------------------------------- ---------------------------------
Dated: Dated:
---------------------------- ------------------------------
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EXHIBIT B
COMPENSATION SCHEDULE
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ADDENDUM TO REGISTERED REPRESENTATIVE
AGREEMENT FOR FARMERS DISTRICT MANAGERS
This Addendum is attached to and is made a part of the Farmers District
Manager's Registered Representative Agreement dated the _________ day of
_________, 20__ by and between Farmers Financial Solutions, LLC, a Nevada
limited liability company ("Broker/Dealer") and _________________________
Registered Representative ("RR") who also is a Farmers District Manager.
Broker/Dealer appoints RR to act as a Managing and Supervising
Representative ("MSR") of Broker/Dealer. MSR has no authority to bind
Broker/Dealer or make any representations on behalf of Broker/Dealer except
within the scope of RR's appointment as stated herein.
MSR will manage, supervise and assist his or her agents who are
registered representatives of Broker/Dealer in the sale of securities products
and services that are made available by Broker/Dealer. MSR shall act as a
Registered Representative and principal under the NASD rules and regulations,
and MSR represents and warrants to Broker/Dealer that throughout the term of
this Addendum he or she will be duly licensed as a Registered Representative and
principal.
MSR understands his or her role is to supervise Registered
Representatives in his or her District and agrees not to independently solicit
customers or write business except in working with his or her Registered
Representatives.
MSR shall be paid commissions on sales of securities products and
services in accordance with the Farmers products/commission schedules which are
in force from time-to-time for Farmers District Managers who become and act as
registered principals of Broker/Dealer.
MSR will be designated a principal of Broker/Dealer. MSR's duties will
be directed by the Broker/Dealer operations and compliance manual, written
supervisory procedures, and as may be advised by Broker/Dealer. MSR agrees to
supervise Registered Representatives as signed to MSR's District for purposes of
compliance with the rules and guidelines of Broker/Dealer and the applicable
regulatory authorities. Responsibilities will include but are not limited to:
- ADVERTISING -- Ensure that required advertising and
correspondence has received approvals from Broker/Dealer
Compliance Department. Work with Registered Representatives to
ensure regulatory compliance as pertains to Broker/Dealer
general advertising.
- INTERNAL POLICIES -- Responsible for stating, distributing, and
enforcing any internal policies and procedures.
- RR SUPPORT STAFF -- Responsible for all clerical and
administrative staff who are appointed relative to securities
operations and activities.
- TRADING ACTIVITY -- As required, review all new accounts,
trades, logs and blotters either in person or by designation of
another with Broker/Dealer consent.
- SALES SUPERVISION -- Conduct periodic educational and
motivational meetings with information pertaining to compliance,
products, and other pertinent information.
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Monitor sales practices with regard to such things as
presentation skills, fact gathering, needs and risk assessment,
and product recommendations.
- ANNUAL MEETING -- Perform Annual Registered Representative
Review and Branch Audit as required by NASD and Broker/Dealer.
- RECORDKEEPING -- Maintain files and records as required.
IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be duly
executed as of the date and year first above written.
FARMERS FINANCIAL SOLUTIONS, LLC
By:
--------------------------------------
(Signature)
Name:
------------------------------------
Title:
-----------------------------------
MANAGING AND SUPERVISORY REPRESENTATIVE
By:
--------------------------------------
(Signature)
--------------------------------------
(Print Name)
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