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That's all required for any stock trading. It's actually regulated this way.
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I have accounts at another brokerage and they never required that I provide my actual SS card, passport or bank account routing and account numbers.
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I used to work for Citi Financial. At some point they'll require it and it's regulated as such they will require something to prove you are really you.
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Also they are routing money to you account, and that's what that is for. When you opened your account was probably before the regulation changes.
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They're not routing any money to your account when you sign up , It's only when you
sell so you shouldn't need to provide any information until you decide to sell.
You can look at it whatever way you want but for me it's not worth giving that info for one
share of stock.
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Aside from that the others are required by regulation which I was pointing out.
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It's all here in the FDIC rules FDIC Law, Regulations, Related Acts - Miscellaneous Statutes and Regulations rule 1020.220 actually talks about identification requirements. It doesn't actually use the term SSN but rather Tax Identification number (which for most of us is our SSN). They don't use the term SSN because technically by the letter of the law when SS was enacted the number wasn't supposed to be used for anything other than SS and we all know how that went lol.
But if you open any bank account, asset account (brokerage) or etc you have to do this. After the basic info the rest is "risk assessment" and they must prove they have some kind of program which I am sure is probably some random percentage they have an increased screening.
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And I am assuming there is some regulation that stops them from giving stock to those with business accounts - like ours.
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There are so many laws and regulations as there are lawyers. They are often specialist in specific areas and general well rounded lawyers don't fair well.
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