Effective January 22, 2018, Capital Forensics, Inc. (CFI) will administer the Protocol for Broker Recruiting (also referred to as the Broker Protocol).
The Broker Protocol was originally executed in 2004 between Citigroup Global Markets Inc. (“Smith Barney”), Merrill Lynch, Incorporated and UBS Financial Services Inc. The Protocol governs the use of client information when registered representatives move between firms that are signatories to the Protocol, with the stated principal goal of furthering clients’ interests in privacy and freedom of choice in connection with the movement of their registered representatives.
Capital Forensics’ role in administering the Protocol is strictly limited to maintaining and distributing lists of Protocol signatory firms and their contact information. Capital Forensics does not provide legal advice as it relates to the Protocol, interpret the terms of the Protocol, or police signatories’ conduct as it relates to the Protocol.
A firm interested in joining the Broker Protocol must complete and sign the Joinder Agreement and send it to CFI. Please also submit the name, phone number, and e-mail address of your firm’s contact, for purposes of the Protocol. Signed copies of the Joinder Agreement and firm contact information should be submitted to Capital Forensics, Inc.
Please complete and submit the Joinder Agreement and provide contact information by sending both to the email address listed above. Capital Forensics will inform all Protocol members of any Joinder Agreements received, and the date in which it was received.
A firm wishing to withdraw as a signatory to the Protocol should submit a letter of withdrawal, which specifies the effective date of withdrawal, to Capital Forensics, Inc. by sending an email to our email address.
CFI will distribute the list of signatory firms and their contact information, along with notification of any additions, withdrawals or changes to the previously issued list. Regular updates will be sent twice a week – on Mondays and Thursdays. These updates will include any changes received by close of business the prior day, and will be sent to all firms that are signatories to the Protocol.