Timeline Questions Flashcards
Taping Rule, when do all firm employees need to be recorded?
60 days
Arbitration timeline
6 years from the event, not time of discovery
Rule 17a-11, BD is req’d to send immediate notice to the SEC and DEA, if:
- Total amount of subordinated loans exceeds 70% of the debt/equity total of the BD for a period exceeding 90 days
- Immediate notice if AI to net capital exceeds 1,500%
- Material inadequacies including being under net cap requirement,
○ Reported in 24 hours
Terminated employee, how long must former firm report events, subsequent to her termination?
ongoing with no time limit
What is free-riding, what is the penalty?
failure to pay for a security prior to selling it, must pay BD first!
90 day frozen account
Physical to electronic record keeping
notify DEA at least 90 days prior to switching to new storage media, besides optical disk
3 unexcused outages within 5 business days results in a :
20 business days suspension
Rule 147:
Provides an exemption from registration for the sale of the securities on an inter-state basis:
must wait 6 months prior to out-of-state resident
if before 6 months, can selll to in-state resident
Location change
file with FINRA within 30 days
physical moves
WKSI bankruptcy
last 3 years matter for designation
Trace reporting
T+1
CAT errors
must submit corrected data by 8am ET on the 3rd business day of the following the trade
CAT Clock synchronization
50 milliseconds of NIST
Manual within 1 second of NIST
Restricted equity securities reporting rules:
ANY TIME during the same business day if trans is between midnight and 8am
Regulation M filing
Filed by managing underwriter with FINRA no later than 1 business day prior to start of restricted period.
