3218. Pre-trade disclosure of charges

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    1. Before a Dealer Member accepts an instruction from a retail client to purchase or sell a security in an account other than a managed account, the Dealer Member must disclose to the client:
      1. the charges the client will be required to pay, directly or indirectly, in respect of the purchase or sale, or a reasonable estimate if the actual amount of the charges is not known to the firm at the time of disclosure,
      2. in the case of a purchase to which deferred charges apply, that the client might be required to pay a deferred sales charge on the subsequent sale of the security and the fee schedule that will apply, and
      3. whether the firm will receive trailing commissions in respect of the security.
    2. Subsection 3218(1) does not apply to a Dealer Member in respect of an instruction involving:
      1. a client for whom the Dealer Member purchases or sells securities only as directed by a registered adviser acting for the client.

    There is no history log for this rule.

    There is no history log for this rule.