Ch. 7, 8 Series 14
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13 Terms
Broker
intermediary between 2 parties in a transaction
Dealer
buys securities from customers and puts those securities in its own inventory or sells securities to customers from its own inventory
FORM BDW
required to file when BD goes out of business. withdraws registration with SEC and states its registered in.
How many days does SEC have to respond to an application submission
45 days
How long does FINRA have to review application for completeness for FINRA membership
30 days
How long does a company have to respond to FINRA’s request for additional info
60 days
How long does FINRA have to accept or deny a completed application
30 days
Investment Advisers must register with SEC when
Assets under management exceed $110mn
Form CRS
1-2 page summary of important info abt the customer relationship in Q&A format
any changes must be communicated to existing customers within 60 days of amendments.
When must CTR be filed
within 15 calendar days
When must SAR be reported
within 30 calendar days
Monetary Instrument Log
record of cash purchases of negotioable instruments (ex: cashiers checks) between $3k-$10k, going back 5 yrs