exam 5 Flashcards
Which regulatory body conducts a review of Schedule TO
The SEC’s Staff Office of M&A
DTCC settlement system for hen, as, and if issued securities?
All such trades bypass the DTCC system prior to settlement
Oats are submitted
daily
SIPC Membership on a confirm
A firm typically must disclose that it is not a member of the Securities Investor Protection Corporation (SIPC), or that the broker or dealer clearing or carrying the customer account is not a member of SIPC.
A broker-dealer’s debt-to-equity ratio may not exceed
70% debt for a period greater than 90 days.
violation is on day 91.
reg u
bank loans to buy securities which governs nonbroker-dealer lenders
Reg T
credit by broker dealers
If a broker-dealer that does not carry customer funds or securities receives a customer check made out to a third party, it should be forwarded to the third party:
By noon on the following business day
If the security enters the limit state and fails to move back inside the price bands, the exchange will issue a trading pause in the security for:
5 minutes
customer order protections for institutions and large retail orders
A member firm is prohibited against trading ahead of customer orders. An exception is given to institutions or large retail orders, but the customer is permitted to opt in to these protections.
Form BR is used to notify FINRA as to the status of a given branch location.
Filing time frame
30 days in advance
Supervision of employees who assist in preparing trade reports
would usually be the responsibility of a general securities principal.
trial balance preperation time frame
Monthly done by broker dealers for net capital
Under the Code of Procedure, the Hearing Panel must notify the subject of a complaint about a hearing how many days prior to the hearing?
28 days
reg x
borrowers who buy securities
