Deal of The Day! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions
Mail Us support@pass4success.com
Location US
Mob_nav_barsMENU

Finra Exam Series-6 Topic 6 Question 96 Discussion

Actual exam question for Finra's Series-6 exam
Question #: 96
Topic #: 6
[All Series-6 Questions]

Upon receiving a complaint about one of its member firms, FINRA may:

i. require any person associated with the member firm to provide information to FINRA and to testify under oath.

ii. inspect and copy the books, records and accounts of the member firm.

iii. share information obtained from its investigation of a member firm with a foreign regulatory agency.

Show Suggested Answer Hide Answer
Suggested Answer: D

Upon receiving a complaint about one of its member firms, FINRA may require any person associated with the member firm to provide information and to testify under oath; it may inspect and copy the books, records, and accounts of the member firm; and it may share information obtained from its investigation of a member firm with a foreign regulatory agency. The foreign regulator must agree to treat the information confidentiality, and the agreement with the foreign regulator is predicated on two requirements: ''(A) the other regulator party to the agreement must have jurisdiction over common regulatory matters; and (B) the agreement must require the other regulator to reciprocate and share with FINRA information of regulatory interest or concern to FINRA.''


by Salena at Jan 24, 2025, 08:52 PM

Limited Time Offer

25%

Off

Get Premium Series-6 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel
Nana
14 days ago
I'm not sure, I think it might be C) II and III only
upvoted 0 times
...
Lacey
17 days ago
C is my pick. Sharing information with foreign regulators is a key part of FINRA's role in overseeing the global financial system.
upvoted 0 times
Paris
3 days ago
I agree, C is the correct answer. FINRA can inspect and copy the books of the member firm and share information with foreign regulators.
upvoted 0 times
...
...
Karima
23 days ago
I agree, FINRA has the authority to do all those actions
upvoted 0 times
...
Elfriede
25 days ago
I think the answer is D) I, II, and III
upvoted 0 times
...
Rosalind
1 months ago
Haha, I bet the people at FINRA have seen some crazy stuff in those books and records! They must be the financial world's version of the FBI.
upvoted 0 times
...
Madalyn
1 months ago
I think the answer is D. FINRA has the power to do all of those things when investigating a member firm. They need to be able to access the records and compel testimony to conduct a proper investigation.
upvoted 0 times
Gladys
20 days ago
It's important for FINRA to have those powers to maintain the integrity of the financial markets.
upvoted 0 times
...
Ivette
21 days ago
Yes, you're correct. FINRA can require testimony and inspect records to ensure compliance with regulations.
upvoted 0 times
...
Merilyn
24 days ago
I think the answer is D. FINRA has the power to do all of those things when investigating a member firm. They need to be able to access the records and compel testimony to conduct a proper investigation.
upvoted 0 times
...
...

Save Cancel