The First Dollar Benefit Suite supports HSA investing with American depositary receipts (ADRs), equities, exchange-traded funds (ETFs), and mutual funds. If an organization's members should not have access to any of these types of investments, you can customize that organization's supported investments by category.
Informational Purposes Only
The following content has been prepared for informational purposes only and should not be relied on as legal advice. It's a best practice to consult a legal advisor regarding FINRA compliance.
How to restrict an organization's investments
Select Organizations.
Select the appropriate organization.
Select Organization Settings.
Under Health Savings Investments, select the investment instruments that the organization would like to offer.
Save your selections.
Supported investment instruments
The First Dollar Benefit Suite supports American depositary receipts (ADRs), equities, exchange-traded funds (ETFs), and mutual funds.
FINRA
FINRA regulates broker-dealers, capital acquisition brokers, and funding portals. A broker-dealer is in the business of buying or selling securities on behalf of its customers, its own account, or both. A capital acquisition broker is a broker-dealer subject to a narrower rule book. A funding portal is a crowdfunding intermediary.
FINRA 3210
Here's the rule!
3210. Accounts At Other Broker-Dealers and Financial Institutions
(a) No person associated with a member ("employer member") shall, without the prior written consent of the member, open or otherwise establish at a member other than the employer member ("executing member"), or at any other financial institution, any account in which securities transactions can be effected and in which the associated person has a beneficial interest.
(b) Any associated person, prior to opening or otherwise establishing an account subject to this Rule, shall notify in writing the executing member, or other financial institution, of his or her association with the employer member.