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24 Cards in this Set
- Front
- Back
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Who regulates the trading of over the counter non-exempt securities? |
FINRA |
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Firms that transact business in nonexempt securities must register with? |
Finra and the SEC |
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MSRBs provide? |
Registration and operating rules, as well as reporting transparency services for those broker dealers who operate in municipal fixed income |
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If an Associated persons registration is cancelled, revoked, or suspended no member can permit the person to remain ? |
associated with it in any capacity including clerical, the Ap cannot receive any pay |
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Rule 9522 ? |
application to be hired in a clerical manner |
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Form MC-400?
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filed requesting permission to employ in clerical manner |
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Criminal convictions within the past ___years may result in a statuatory disqualification? |
10
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Finra is the DEA for |
municipal firms |
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Close end funds? |
Holder can sell closed-end funds only as a new issue Once they hit secondary market , no longer sold with prospectus(series 7/62 is required) |
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Commodity future contracts are not ? |
securities. |
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Can a series 11 determine suitability? |
no |
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Series 10 allows? |
holders to supervise branch activities in municipal securities and other general securities. It does not permit the holder to approve advertising, municipal or otherwise |
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All municipal firms must have at least 2 municipals principals unless the firm: |
1) Belongs to another securities association such as FINRA 2) Has fewer than 11 associated persons |
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are outside directors or partners whose only connections to the firm is the contribution of capital considered associated persons? |
YES |
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Where does the new firm obtain a copy of the U-5? |
Finra or new employee |
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Form BR is filed? |
If opening a new branch, notify Finra within 30 days |
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Copies of form G-37 must be maintained for ? |
6 years |
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On door signage, the member firms name must be displayed in larger letters than? |
The SRO |
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A member firm may pay commissions to a non member for executing? |
an exempt securities transaction in the over the counter market /a nonexempt securities transaction on an exchange floor |
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Information on customer complaints must be electronically filed with FINRA? |
Quarterly |
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A late filing fee will be assessed against a member if form U-5 is not filed within ? |
30 Days |
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Records relating to terminated representatives must be obtained for ? |
3 years |
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sipc coverage is provided to customers for? |
common stock and municipal bonds |
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6 year records do not include? |
FOCUS reports |
