Are E-Signatures Legal for Financial Advisors?
Online and electronic signatures are legal in the United States of America since 2000, but financial advisors have to keep in mind various issues regarding compliance. Brokers and dealers who want to use online signatures should ensure that any technology they use must be FINRA/SEC-compliant.
Most financial advisors are choosing e-signatures for an easy and quick way to get documents signed by the required people. Any technology used should be legal because there are strict laws in the USA governing electronic signatures. There are specific guidelines for E-signature vendors, and not all vendors comply with these guidelines.
E-Signatures are used by various vendors, dealers, financial institutions, etc. In the USA, Form W-9 is used by a business or a party to request information from a t...