Chapter 1.12 Flashcards Preview

Chapter 1 > Chapter 1.12 > Flashcards

Flashcards in Chapter 1.12 Deck (6)
Loading flashcards...
1
Q

Who is exempt from municipal registration?

A

Government Securities traders

2
Q

What must a firm employing a new municipal principal or representative obtain?

A

Employment history for the last 10 years and must confirm the last 3 years.

3
Q

Registration may be suspended for up to 12 months for all of the following:

A
  • Fraudulent application
  • Felony
  • Name as cause in another’s suspension, expulsion, or revocation of registration.
4
Q

If a Municipal securities dealer from whom information is requested regarding a former associated person…

A

The dealer is obligated to respond within 10 business days.

5
Q

Employment Record requirements

A

Employment records U4 and U5 must be kept on file until at least 3 years have elapsed from the time an associated person left a firm.

6
Q

Fully disclosed Broker/Dealer

A

Would have customer accounts carried at another B/D and would have fewer reporting requirements than the Carrying B/D.