The Numbers Flashcards
1
Q
10 days
A
The amount of time…
- A company must notify regulators at the exchange or FINRA for the declaration date
2
Q
30 Days
A
Amount of time…
- required to perform a comprehensive review of the U4
- to update U4 for a material change (10 days if felony or misdemeanor involving cash or securities)
- for member firm to submit U5 (termination notice)
3
Q
60 days
A
Amount of time…
- for hiring firm to obtain U5 directly from employee or FINRA (not the previous firm)
4
Q
24 months
A
Amount of time…
- a person leaving the industry for more than this time is required to re-qualify by exam.
6
Q
3 years
A
Amount of time…
- the principle of the firm is required to verify employment information
- records of gifts and employment contracts must be retained
7
Q
10 years
A
Amount of time…
- an individual may be disqualified by statute for felony conviction or misdemeanor involving securities, bribery, or falsification of reports.
