SIE Exam Important Time Periods!

The prospectus delivery requirement for an IPO that will not be listed continues

for 90 days after the deal closes

If the IPO will be listed, the prospectus delivery requirement continues

for 25 days.

Member firms are required to submit to FINRA a report that contains statistical and summary information about complaints received over

the last quarter. This report is due on the 15th of the month following the end of the calendar quarter.

If a company is utilizing a shelf registration, it is only required to file one registration statement to cover all of the securities to be issued during the next:

Three years

A broker-dealer is permitted to hold a customer's mail without instructions concerning a valid reason for a period not exceeding

three consecutive months

If a temporary hold is placed on a customer's account (i.e., for a specified adult), the firm is required to notify both the account owner and the trusted contact person by no later than

two business days after the hold has been placed.

A temporary hold will expire...

No later than 15 business days after the date it was first placed

Prior to selling a new issue a firm must meet certain preconditions for sale... before distributing shares of a new issue into an account a firm must obtain representation from the account holder... the representation may be in the form of an AFFIRMATIVE STATEMENT that must be verified every

12 months

FINRA requires that complaint records be maintained for

4 years at the OSJ

Records kept for Lifetime include

Corporate or partnership documents

Records kept for 6 years include

Blotters(records of original entry), municipal complaints, new account forms, PoAs

Records kept for 3 years include

Trade tickets, Confirms, Statements, Forms U4/U5 and employee records, all communications, trail balances

SEC requires broker-dealers to advise their customers regarding their free credit balance on at least a

quarterly basis

Broker dealers are required to honor a persons do not call request within a reasonable period which may not exceed

30 days from the date the request was made

Broker dealers are required to provide customers with account statements as least

quarterly

A broker dealer must maintain records of the methods it used to verify a customer's identity for

5 years following the closing of the account

A stress test must be conducted

annually

If a member firm does not execute transactions for customers or otherwise hold customer accounts a stress test is required to be conducted

every 2 years

Under rule 144, holding period for a reporting company is

6 months

Under rule 144, holding period for a non-reporting company is

1 year

Under rule 144, the holding period for control stock is

No holding period

Cooling-off period lasts for

20 days

Commercial paper typically matures in

270 days or less

On a registration statement, balance sheet created within _____ days prior to the filing of the registration statement.... Financial statements that show profits and losses for the latest _________ and for ______________ years

Balance sheet: 90 days

Latest fiscal year

Two preceding fiscal years

Settlement date: Corporate securities in a cash or margin account

Two business days (T+2)

Settlement date: Municipal Securities

Two business days (T+2)

Settlement date: U.S. Government Securities

Next Business Day (T+1)

Settlement date: Option Trades

Next Business Day (T+1)

Settlement date: Cash transactions

Same day

Customer Payment (Reg T): Corporate securities in a cash or margin account

4 Business days (T+4 or S+2)

Customer Payment (Reg T): Municipal Securities

Exempt from Reg T.

Customer Payment (Reg T): U.S. Government Securities

Exempt from Reg T.

Customer Payment (Reg T): Option Trades

4 Business days (T+4)

10-K filing is...

Annual

For how long is a letter of intent effective?

13 months

10-Q filing is...

quarterly