Member Firm Rules

Question 1

Business Continuity Plan

Answer 1

don’t have it with FINRA, but must be made available upon request and a copy must be maintained at a secure, off site facility. Must be reviewed annually by Series 24 Principal. Must designate 2 emergency contact series 24 principals.

Question 2

Written supervisory procedures

Answer 2

General Principal in the designated Office of Supervisory Jurisdiction carries out the procedures. Have to review and endorse in writing all transactions of registered representatives (by Series 24 principal). Review incoming and outgoing correspondence. Periodic review of customer accounts.

Question 3

Office of Supervisory Jurisdiction (OSJ)

Answer 3

Where any of the following take place: order execution or market making, structuring of new issue offerings, final approval of new accounts, review and approval of customer orders, review and approval of literature, responsible for supervising activities at one or more branch offices.

Question 4

Chief Compliance Officer

Answer 4

Series 24 - reviews and tests supervisory procedures. Must meet with CEO once a year to review.

Question 5

Back Office compliance

Answer 5

data management, electronic communication retention storage and retrieval. IT standards. Ops support for processing and settling customer transactions. Internal controls including managing risk related to trading, credit and new products.