Who is responsible for notifying a brokerage firm about their employment change?

The account holder is responsible for notifying a brokerage firm about their employment change. This responsibility is crucial because the account holder maintains the relationship with the brokerage firm and must ensure that the firm has up-to-date information regarding their employment status. Employment changes can affect various factors, including investment strategies, risk tolerance, and the regulatory requirements associated with their accounts. By directly informing the brokerage, the account holder helps maintain accurate and timely records, which is essential for compliance and communication purposes.

In practice, while the employing broker-dealer may facilitate communication regarding compliance and regulatory obligations, it is ultimately the account holder's duty to ensure that they communicate any significant changes in their employment to their brokerage firm. This proactive approach helps prevent any misunderstandings or issues related to account management, reporting, and adherence to legal requirements.