Report on Routing of Customer Orders
Currently all orders of Morgan Wilshire Securities, Inc. are routed through its clearing firm, RBC Clearing & Custody (RBC), a division of RBC Capital Markets, LLC.
RBC has provided information pursuant to U.S. Securities and Exchange Commission Rule 606 that requires firms to make publicly available quarterly reports on the firm’s order routing practices. The report provides information on the routing of “non-directed orders” which is generally defined as any order that the client has not specifically instructed to be routed to a particular venue for execution.
For these non-directed orders, RBC has selected the execution venue on behalf of its clients.
In compliance with FINRA Rule 6151, Morgan Wilshire Securities, Inc. adopts the clearing firm’s report by reference for all relevant transactions and activities. This means that, as a broker-dealer firm, we rely on the clearing firm’s comprehensive reports and data to ensure accurate and compliant reporting of transactions. By adopting these reports by reference, we leverage the clearing firm’s established processes and controls, ensuring consistency with regulatory requirements while maintaining the efficiency and accuracy of our own reporting practices. This approach streamlines our operations and reinforces our commitment to adherence with FINRA’s regulatory standards.
Click RBC Clearing & Custody for details on their SEC Order Handling Disclosure.
Client Relationship Summary – Form CRS
The Securities and Exchange Commission (SEC) has introduced a new Client Relationship Summary known as Form CRS. It provides information about the relationship between a client and their broker-dealer or investment advisor. The new Form CRS has an effective date of June 30, 2020. The Form CRS will help provide you with information that will help us continue to work well together.