Ch20 S7

Front 1

Code of Procedure

Back 1

-Purpose is to handle trade practice complaints
-Require b/ds to keep and maintain a current copy of the FINRA manual

Front 2

Dept of Enforcement or dept of market regulation

Back 2

1.Will establish a hearing panel(hearing officer and 2 panelists).
2.Must issue a written opinion in 60 days
3.The respondant has 25 days to appeal to the National Adjudicatory Council

Front 3

National Adjudicatory Council

Back 3

1.Can affirm, modify, reverse, inc, or reduce any sanction or impose other sanction they feel appropriate. Their decision amy be appealed to the SEC

Front 4

T or F
The max penalty a Hearing Panel can impose for Minor Rule Violations is a fine of $5k(used to be $2,500)

Back 4

T

Front 5

FINRA will release to the public info concerning the following disciplinary actions

Back 5

1.Suspension or revocation
2.Suspension or barring
3.Imposition of montary penalty of $10k or more

Front 6

T or F
FINRA has jurisdiction over insurance, commodities, and residential real estate

Back 6

F
They NOT

Front 7

T or F
FINRA has the authority to establish min and max sentences

Back 7

F
Courts do this,not FINRA

Front 8

Office of Ombudsman

Back 8

NEAUTRAL and CONFIDENTIAL FORUM for member firms and their employees or public inv