All the dates Flashcards
Discovery of a material inadequacy in books and records
24 hours
SEC and FINRA
Follow up in 48 hours on how the problem is being corrected
Discovery that books and records are not current
Same day
SEC and FINRA
Follow up in 48 hours on how the problem is being corrected
After first year operations with AI/NC ratio over 15:1
Same day
SEC and FINRA
NC falls below 100% of min requirement
Same day
SEC and FINRA
First year operations with AI/NC ratio over 8:1
Same day
SEC and FINRA
Early Warning NC below 120%
24 hours
SEC and FINRA
Early warning with AI/NC ratio over 12:1
24 hours
SEC and FINRA
Lost securities noticed as a result of physical count must be reported in
10 business days
SIC
(recorded on the books at 7 business days)
Debt/Equity ratio above 70% must be reported in how many days
Over 90 days
Reports of suspicious activities filed in
30 calendar days
FinCEN
(SAR’s)
Member subject to churning complaint must respond in
25 days
FINRA
Inaccuracies found in form BD must be amended
Promptly
SEC and FINRA
Advance notice of setting a Record date
10 business days
Exchange
If securities underlying secured demand note falls sharply in value, must notify
Immediately
FINRA & Lender
(HC’d value is less than face amount of note)
Syndicate managers that delay firm commitment underwritings beyond closing date
> 90 days
FINRA
Missing securities or criminal activity
Promptly: FBI
1 business day: SIC and Transfer agent
Missing securities that are now found
1 business day: FBI, SIC, transfer agent
Repurchase agreement (or reverse repo) balance exceeds 25x tentative capital
24 hours
SEC and FINRA
Securities that are lost through a clearing agency must be reported by the receiving firm
1 business day of receipt of certificates
SIC
A standard form subordinated loan must be filed in
10 days
FINRA
Must send notification if auditor is being replaced
15 business days
SEC and FINRA
Must send notice if a BD terminates membership with an SRO
24 hours
SRO and SEC
Must complete a FOCUS II if terminates membership with SRO
2 business days
SRO and SEC
Insurance claim is non-allowable if outside council does not provide an opinion (uncovered)
7 business days
Under 15c3-3 securities that are failed to receive must be bought in at
30 calendar days
Under 15c3-3 short securities count differences must be bought in at
45 calendar days
Under 15c3-3 a short security reserve must be set up at
30 calendar days
Stock record must be posted
S+1
Fail to deliver - HC’d then bought in at what dates
5 business days then 10 business days
Short securities differences are non-allowable at how many days
(HC 7,14,21,28)
30 days
Insurance claim is non-allowable if insurance company does not acknowledge the claim after how many days
20 business days
