All the dates

Question 1

Discovery of a material inadequacy in books and records

Answer 1

24 hours
SEC and FINRA
Follow up in 48 hours on how the problem is being corrected

Question 2

Discovery that books and records are not current

Answer 2

Same day
SEC and FINRA
Follow up in 48 hours on how the problem is being corrected

Question 3

After first year operations with AI/NC ratio over 15:1

Answer 3

Same day
SEC and FINRA

Question 4

NC falls below 100% of min requirement

Answer 4

Same day
SEC and FINRA

Question 5

First year operations with AI/NC ratio over 8:1

Answer 5

Same day
SEC and FINRA

Question 6

Early Warning NC below 120%

Answer 6

24 hours
SEC and FINRA

Question 7

Early warning with AI/NC ratio over 12:1

Answer 7

24 hours
SEC and FINRA

Question 8

Lost securities noticed as a result of physical count must be reported in

Answer 8

10 business days
SIC
(recorded on the books at 7 business days)

Question 9

Debt/Equity ratio above 70% must be reported in how many days

Answer 9

Over 90 days

Question 10

Reports of suspicious activities filed in

Answer 10

30 calendar days
FinCEN
(SAR’s)

Question 11

Member subject to churning complaint must respond in

Answer 11

25 days
FINRA

Question 12

Inaccuracies found in form BD must be amended

Answer 12

Promptly
SEC and FINRA

Question 13

Advance notice of setting a Record date

Answer 13

10 business days
Exchange

Question 14

If securities underlying secured demand note falls sharply in value, must notify

Answer 14

Immediately
FINRA & Lender
(HC’d value is less than face amount of note)

Question 15

Syndicate managers that delay firm commitment underwritings beyond closing date

Answer 15

> 90 days
FINRA

Question 16

Missing securities or criminal activity

Answer 16

Promptly: FBI

1 business day: SIC and Transfer agent

Question 17

Missing securities that are now found

Answer 17

1 business day: FBI, SIC, transfer agent

Question 18

Repurchase agreement (or reverse repo) balance exceeds 25x tentative capital

Answer 18

24 hours
SEC and FINRA

Question 19

Securities that are lost through a clearing agency must be reported by the receiving firm

Answer 19

1 business day of receipt of certificates
SIC

Question 20

A standard form subordinated loan must be filed in

Answer 20

10 days
FINRA

Question 21

Must send notification if auditor is being replaced

Answer 21

15 business days
SEC and FINRA

Question 22

Must send notice if a BD terminates membership with an SRO

Answer 22

24 hours
SRO and SEC

Question 23

Must complete a FOCUS II if terminates membership with SRO

Answer 23

2 business days
SRO and SEC

Question 24

Insurance claim is non-allowable if outside council does not provide an opinion (uncovered)

Answer 24

7 business days

Question 25

Under 15c3-3 securities that are failed to receive must be bought in at

Answer 25

30 calendar days

Question 26

Under 15c3-3 short securities count differences must be bought in at

Answer 26

45 calendar days

Question 27

Under 15c3-3 a short security reserve must be set up at

Answer 27

30 calendar days

Question 28

Stock record must be posted

Answer 28

S+1

Question 29

Fail to deliver - HC’d then bought in at what dates

Answer 29

5 business days then 10 business days

Question 30

Short securities differences are non-allowable at how many days

(HC 7,14,21,28)

Answer 30

30 days

Question 31

Insurance claim is non-allowable if insurance company does not acknowledge the claim after how many days

Answer 31

20 business days