Securities Industry Rules and Regulations

Question 1

Uniform Practice Code

Answer 1

This code regulates the way members conduct business with other members.
Settlement dates.
Ex dividend dates.
Rules of good delivery.
Confirmations.
Don't know (DK) procedures.

Question 2

Code of Procedure

Answer 2

The code of procedure regulates how FINRA investigates complaints and violations. The code of procedure regulates the discovery phase of alleged violations of rules of fair practice. The code of procedure is not concerned with money; it is only concerned with rule violations.

Question 3

Code of Arbitration

Answer 3

Provides a forum to resolve disputes. Provides a final and binding resolution involving a member and: 
Another member.
A registered agent.
A bank.
A customer.

Question 4

NASD

Answer 4

The SRO for FINRA. Created by the Maloney act of 1938.