MSRB Securities Rules Flashcards
1
Q
What must a broker dealer have before making a municipal investment recommendation?
A
Reasonable grounds for:
- the recommendation based on info available from the the issuer
- believe that the recommendation is suitable for the customer based on info collected by the firm from that customer
2
Q
What happens if a customer refuses to disclose financial status for an MSRB investment?
A
Recommendations can NOT be made. However, if customer gives specific direction, you can execute those trades if you mark them “unsolicited”
3
Q
What can a a FINRA Branch manager approve? (Series 9 and 10)
A
Accounts trading stocks, options, and all bonds
4
Q
What can a FINRA series 24 person approve?
A
Accounts trading stocks, CORPORATE bonds, and MUNI bonds
5
Q
What can a Series #4 person approve? (ROP)
A
Options
6
Q
What can a Series #53 or #24 or #9 and #10 approve?
A
Municipals
