Within each district of FINRA this sector handles trade practice violations. The executive committee, made up of members of the board of governors, manages the organizations national affairs.
What is the Department of Enforcement?
100
Allows representatives to sell open-end investment companies, new issues of closed-end investment companies, and variable products.
What is the series 6?
100
The Security Act of 1933 requires new issues of corporate securities to be registered with the SEC on this level.
What is Federal Registration?
100
Dividends are declared by these members.
What is the Board of Directors?
100
Regulates the primary issues of securities.
What is the Securities Act of 1933?
200
The largest self-regulatory organization (SRO) for all securities firms doing business in the US.
What is FINRA?
200
Allows representatives to sell almost all types of securities products except commodities.
What is the series 7?
200
These require state registration of securities, broker/dealers, and registered representatives.
What is are blue-sky laws?
200
Two or three weeks after the record date, the dividend disbursing agent sends dividend checks to all stockholders whose names appeared on the books as of the record date.
What is the payable date?
200
This led to the creation of the SEC
What is the Securities Exchange Act of 1934?
300
Describes how FINRA hears and handles member violations of the Conduct Rules.
What is the Code of Procedure?
300
Entitles Principal to supervise the sale, solicitation and purchase of any security that a series 7 registered representative is authorized to trade.
What is the Series 24?
300
Used to gauge investor reactions and gather indications of interest. This is generated during the 20 day "cooling off period".
What is a red herring?
300
This is the order in which the dates involving dividend distributions occur.
What is DERP? (Declaration Date, Ex-dividend Date, Record Date and Payable Date)
300
An ammendment that led to the creation of FINRA.
What is the Maloney Act?
400
Established trade practices, including settlement, good delivery, ex-dates, confirmations, and other guidelines for broker/dealers when they do business with other member broker/dealer firms.
What is the Uniform Practice Code?
400
Must be completed within 120 days of a person's second registration anniversary and every three years thereafter. Touches upon industry regulation and ethics in dealing with customers.
What is the regulatory element?
400
Issuer Files registration statement with the SEC, Cooling off Period and Effective date-offering period may begin.
What are the 3 phases of Underwriting?
400
Date on which the BOD announces a dividend.
What is the declaration date?
400
Registered broker/dealers must have fingerprint records made for all their employees, directors, officers, and partners and must submit thos fingerprint cards to the US attorney general for identification and processing.
What is Rule 17f-2?
500
Governs the resolution of disagreements and claims between members, registered representatives and the public; it addresses monetary claims.
What is the Code of Arbitration Procedure?
500
All registered representatives and principals are required to attend. The venue for this meeting must ensure that all participants can get their questions answered in a timely fashion.
What is an Annual Compliance Review?
500
States that anyone with a tie to the securities industry, or is financially dependent on a person in the securities industry, cannot purchase an IPO of common stock on the first day of trading.
What is FINRA RULE 5130?
500
Date on which payment must be received under the rules of its SRO
What is the settlement date?
500
Broker/Dealers must comply with the SEC, if they do not comply they are subject to;
-censure
-Limits on activities, functions, or operations
-Suspension of its registration
-revocation of registration
-a fine