4 Registrations Flashcards
Series 7
Series 66
General Securities
Limited Rep, mutual funds, var contracts, UW for closed end funds
U4
U5
to register, principal signs
w/in 30 day of leaving a firm
CE
2 yr anniversary
every 3 yrs after
violations & fines of 5k
Series 79
investment banking rep
primary mkt
not sales (secondary mkt)
doesn’t apply to munies or dPPs
Series 24
Principal
Series 86 & 87
research analyst
out for how many years retake exam?
2 years
Registration exempt for (4)
- nominal corp officer
- munies
- commodities
- futures or stock exchange filling orders
correspondence
distributed to <=25 investors
w/in 30 cal days
institutional communication
assets 50 MM
100 participants
FINRA member
retail communication
25+ investors w/n 30 cal days
approved by 24
filed w/ FINRA w/in 10 days of use
speaking engagement
record retention req
3 years
Prefiled Commission
inv co rank
not publised or created by inv co
Filings include (3)
- date of 1st use
- name, title, CRD or approving 24
- date approved
Report to shareholders - how often
Public Co
Mutual Funds
Quarterly
Semi annually
fail exam 3 times must wait
6 months
DBA must be filed with
FINRA & SEC
arbitrations
amt of acct
number arbitrators
> 100k
3 unless both parties agree to 1
arbitratiors from public
How many days to supply
client w/ copy of arbitration agreement?
10 bus days
ad w/ options
file with FINRA when
10 bus days prior to use
Max fine for minor rule violation
2500
arbitration responses
45 days
no registration if
felony w/ in 10 yrs
or $ related misdemanor
SIPC
coverage amounts
500k
of which only 250k can be cash
Insider trading penalty fee
RR
BD
the greater of
3 x profit or
RR - 5MM
BD - 25MM
