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Do Not Call List - Straight Answer?

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Jun 10, 2008 10:28 am

I work for a bank brokerage. Letters were sent out on Investment Program letterhead introducing our investment services to all the new accounts the bank opened the prior month. Approved of course by compliance.

I cannot get a straight answer on whether or not this list now needs to be scrubbed against the DNC list prior to me placing follow-up calls.

I checked with compliance and their answer was “Best practices, yes, but we know of no one who has had a problem calling bank clients. Low risk”.

If I remember correctly, it is 11K per incident if a complaint, so “low risk” to who?

I’ve never worked in a bank brokerage, so don’t know how the DNC laws apply here.

Can anyone help?

Jun 10, 2008 3:31 pm

I think you are fine.  If the bank and brokerage are considered the same business, then you can call them.  If these are actual bank clients, then call away.  If you have not contacted them in 18 months, they are considered back on the firms DNC list.  But since they are “new” accounts, you are fine.

Jun 11, 2008 1:11 am


Broker24 is right = if the firm has done biz with them in the last 18 months then you can call with no problem. The question is, when you call them, are you an employee of the bank, or the b/d. Being an employee of the bank, makes it ok.