19.330—What requirements must I pass down to persons at lower tiers with whom I intend to do business?
Before entering into a covered transaction with
a participant at the next lower tier, you must
require that participant to—
(a)
Comply with this subpart as a condition of
participation in the transaction. You may do so
using any method(s), unless § 19.440 requires you
to use specific methods.
(b)
Pass the requirement to comply with this
subpart to each person with whom the participant
enters into a covered transaction at the next
lower tier.