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NASD Rule 2310 on suitability requires a broker-dealer to obtain suitability information from clients, but the requirement depends on whether the trade is solicited.

If a trade is solicited, the broker-dealer needs to obtain suitability information from the client.  If the trade is unsolicited, the broker-dealer does not need to obtain suitability information.

However, before settlement of a trade, the broker-dealer needs books and records information from the client, such as name, address, age, whether the client works for another broker-dealer, name and address of employer if the person does work for another broker-dealer. 

If the trade is not solicited, the broker-dealer does not need to know the objectives, tax status, etc. of the client.  The commissions may be distributed to the representative.

Periodically, a broker-dealer should review its trade reports for liquidation and suitability.