Chapter 2: Post Execution Activities for Financing Deals Flashcards

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1
Q

6 Year Records

A

Original security and cash transactions.
Customer ledger accounts.
Broker dealer ledger accounts.
All short and long positions.

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2
Q

3 Year Records

A
Ledgers of txns other than securities.
Memoranda of instructions.
Txn confirmations.
Cash and margin account records.
Records of options.
General business and financial records.
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3
Q

Records to be Kept Current

A

Written Customer Complaints.
Broker dealer / associated person agreements.
Compliance rules.

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4
Q

Rule 17a-4: Electronic Records Storage

A

Must notify examining authority in advance. If exclusively stored electronically, must get 3rd party involved.

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5
Q

Rule 17a-4(g): Going Out of Business

A

If going out of business or leaving securities industry, must still preserve records as required.

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6
Q

Syndicate Expenses

A

Pro rata share taken out of the underwriting fee.

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