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In accordance with the provisions related to ‘Request to Submit Additional Evidence’ of Finra Rule 9261 – ‘Evidence and Procedure in Hearing’, Which one of the undermentioned may seek to submit any additional evidence at the hearing as the Hearing Officer, in his or her discretion, determines may be relevant and necessary for a complete record?
Finra Rule 9261 – ‘Evidence and Procedure in Hearing’
Request to Submit Additional Evidence:
Notwithstanding paragraph (a), a party, for good cause shown, may seek to submit any additional evidence at the hearing as the Hearing Officer, in his or her discretion, determines may be relevant and necessary for a complete record.
Finra Rule 9261 – ‘Evidence and Procedure in Hearing’
Request to Submit Additional Evidence:
Notwithstanding paragraph (a), a party, for good cause shown, may seek to submit any additional evidence at the hearing as the Hearing Officer, in his or her discretion, determines may be relevant and necessary for a complete record.
In accordance with the provisions related to ‘Majority Decision’ of Finra Rule – 9268 ‘Decision of Hearing Panel or Extended Hearing Panel’, Within how many days after the final date allowed for filing proposed findings of fact, conclusions of law, and post-hearing briefs, or by a date established at the discretion of the Chief Hearing Officer, the Hearing Officer shall prepare a written decision that reflects the views of the Hearing Panel or, if applicable, the Extended Hearing Panel, as determined by majority vote?
Finra Rule – 9268 ‘Decision of Hearing Panel or Extended Hearing Panel’
Majority Decision:
Within 60 days after the final date allowed for filing proposed findings of fact, conclusions of law, and post-hearing briefs, or by a date established at the discretion of the Chief Hearing Officer, the Hearing Officer shall prepare a written decision that reflects the views of the Hearing Panel or, if applicable, the Extended Hearing Panel, as determined by majority vote.
Finra Rule – 9268 ‘Decision of Hearing Panel or Extended Hearing Panel’
Majority Decision:
Within 60 days after the final date allowed for filing proposed findings of fact, conclusions of law, and post-hearing briefs, or by a date established at the discretion of the Chief Hearing Officer, the Hearing Officer shall prepare a written decision that reflects the views of the Hearing Panel or, if applicable, the Extended Hearing Panel, as determined by majority vote.
In accordance with the provisions related to ‘Call for Review – Rule 9268 Decision’ of Finra Rule – 9312 ‘Review Proceeding Initiated By Adjudicatory Council’, If called for a review, By whom such decision shall be reviewed?
Finra Rule – 9312 ‘Review Proceeding Initiated By Adjudicatory Council’
Call for Review – Rule 9268 Decision:
If called for review, such decision shall be reviewed by the National Adjudicatory Council.
Finra Rule – 9312 ‘Review Proceeding Initiated By Adjudicatory Council’
Call for Review – Rule 9268 Decision:
If called for review, such decision shall be reviewed by the National Adjudicatory Council.
In accordance with the provisions related to ‘Observer’ of Finra Rule 9231 ‘Appointment by the Chief Hearing Officer of Hearing Panel or Extended Hearing Panel or Replacement Hearing Officer’,A person who is qualified to serve as a Panelist may be designated by the Chief Hearing Officer to serve as an observer to a Hearing Panel or an Extended Hearing Panel. Which one of the undermentioned action cannot be performed by such observer?
Finra Rule 9231 ‘Appointment by the Chief Hearing Officer of Hearing Panel or Extended Hearing Panel or Replacement Hearing Officer’
Observer:
An observer may attend any hearing of a disciplinary proceeding and observe the proceeding, but may not vote or participate in any other manner in the hearing or the deliberations of the Hearing Panel or the Extended Hearing Panel, or participate in the administration of the disciplinary proceeding.
Finra Rule 9231 ‘Appointment by the Chief Hearing Officer of Hearing Panel or Extended Hearing Panel or Replacement Hearing Officer’
Observer:
An observer may attend any hearing of a disciplinary proceeding and observe the proceeding, but may not vote or participate in any other manner in the hearing or the deliberations of the Hearing Panel or the Extended Hearing Panel, or participate in the administration of the disciplinary proceeding.
In accordance with the provisions related to ‘Criteria for Designation of Primary Regional Committee’ of Finra Rule – 9232 ‘Criteria for Selection of Panelists and Replacement Panelists’, Who shall designate a Regional Committee as the Primary Regional Committee based upon relevant facts and circumstances of the case?
Finra Rule – 9232 ‘Criteria for Selection of Panelists and Replacement Panelists’
Criteria for Designation of Primary Regional Committee:
The Chief Hearing Officer shall designate a Regional Committee as the Primary Regional Committee based upon relevant facts and circumstances of the case.
Finra Rule – 9232 ‘Criteria for Selection of Panelists and Replacement Panelists’
Criteria for Designation of Primary Regional Committee:
The Chief Hearing Officer shall designate a Regional Committee as the Primary Regional Committee based upon relevant facts and circumstances of the case.
In accordance with the provisions related to ‘Documents to be Available for Inspection and Copying’ of Finra Rule – 9251 ‘Inspection and Copying of Documents in Possession of Staff’,If Interested FINRA Staff receives Documents pursuant to a request for information under Rule 8210 after Documents have been made available to a Respondent for inspection and copying as set forth in paragraph (a), and if such Documents are material and relevant to the disciplinary proceeding in which such Respondent is a Party, Within how much time the additional Documents shall be made available to the Respondent?
Finra Rule – 9251 ‘Inspection and Copying of Documents in Possession of Staff’
Documents to be Available for Inspection and Copying
If Interested FINRA Staff receives Documents pursuant to a request for information under Rule 8210 after Documents have been made available to a Respondent for inspection and copying as set forth in paragraph (a), and if such Documents are material and relevant to the disciplinary proceeding in which such Respondent is a Party, the additional Documents shall be made available to the Respondent not later than 14 days after the Interested FINRA Staff receives such Documents.
Finra Rule – 9251 ‘Inspection and Copying of Documents in Possession of Staff’
Documents to be Available for Inspection and Copying
If Interested FINRA Staff receives Documents pursuant to a request for information under Rule 8210 after Documents have been made available to a Respondent for inspection and copying as set forth in paragraph (a), and if such Documents are material and relevant to the disciplinary proceeding in which such Respondent is a Party, the additional Documents shall be made available to the Respondent not later than 14 days after the Interested FINRA Staff receives such Documents.
In accordance with the provisions related to ‘Certification’ under Rule-3130 ‘Annual Certification of Compliance and Supervisory Processes’ of Finra By-Laws, The Member’s processes, with respect to paragraph 1 above, are evidenced in a report reviewed by the chief executive officer(s) (or equivalent officer(s)), chief compliance officer(s), and such other officers as the Member may deem necessary to make this certification. To whom such report should be submitted?
Finra Rule-3130 ‘Annual Certification of Compliance and Supervisory Processes’
Certification:
The certification should also state that the undersigned chief executive officer(s) (or equivalent officer(s)) has/have conducted one or more meetings with the chief compliance officer(s) in the preceding 12 months, the subject of which satisfy the obligations set forth in FINRA Rule 3130.
Finra Rule-3130 ‘Annual Certification of Compliance and Supervisory Processes’
Certification:
The certification should also state that the undersigned chief executive officer(s) (or equivalent officer(s)) has/have conducted one or more meetings with the chief compliance officer(s) in the preceding 12 months, the subject of which satisfy the obligations set forth in FINRA Rule 3130.
In accordance with the provisions related to ‘Service by Courier’ of Finra Rule # 9134 ‘Methods of, Procedures for Service’, Service by courier may be accomplished by sending the papers through a courier service. Regarding which of the undermentioned events, courier service should generate a written confirmation?
Finra Rule # 9134 – Methods of, Procedures for Service
Service by Courier:
Service by courier may be accomplished by sending the papers through a courier service that generates a written confirmation of receipt or of attempts at delivery.
Finra Rule # 9134 – Methods of, Procedures for Service
Service by Courier:
Service by courier may be accomplished by sending the papers through a courier service that generates a written confirmation of receipt or of attempts at delivery.
In accordance with the provisions related to ‘When Service Is Complete’ of Finra Rule # 9134 ‘Methods of, Procedures for Service’, Personal service and service by courier or express delivery are complete upon delivery. At what time, Service by mail will be complete?
Finra Rule # 9134 ‘Methods of, Procedures for Service’
When Service Is Complete:
Personal service and service by courier or express delivery are complete upon delivery. Service by mail is complete upon mailing.
Finra Rule # 9134 ‘Methods of, Procedures for Service’
When Service Is Complete:
Personal service and service by courier or express delivery are complete upon delivery. Service by mail is complete upon mailing.
In accordance with provisions related to ‘Issuance of securities for services or property other than cash’ of Section 22 ‘Distribution, Redemption, and Repurchase of Redeemable Securities’ under Investment Company Act of 1940, Which one of the undermentioned is not allowed to issue any of its securities (1) for services; or (2) for property other than cash or securities (including securities of which such registered company is the issuer), except as a dividend or distribution to its security holders or in connection with a reorganization?
Investment Company Act of 1940
Section 22 ‘Distribution, Redemption, and Repurchase of Redeemable Securities’
Issuance of securities for services or property other than cash:
No registered open-end company shall issue any of its securities (1) for services; or (2) for property other than cash or securities (including securities of which such registered company is the issuer), except as a dividend or distribution to its security holders or in connection with a reorganization.
Investment Company Act of 1940
Section 22 ‘Distribution, Redemption, and Repurchase of Redeemable Securities’
Issuance of securities for services or property other than cash:
No registered open-end company shall issue any of its securities (1) for services; or (2) for property other than cash or securities (including securities of which such registered company is the issuer), except as a dividend or distribution to its security holders or in connection with a reorganization.
In accordance with provisions related to ‘Issuance of securities’ of Section 23 ‘Distribution and Repurchase of Securities: Closed-End Companies’ under the Investment Company Act of 1940, No registered closed-end company shall issue any of its securities (1) for services; or (2) for property other than cash or securities (including securities of which such registered company is the issuer). Which one of the undermentioned is an exception to the aforesaid rule?
Investment Company Act of 1940
Section 23 ‘Distribution and Repurchase of Securities: Closed-End Companies’
No registered closed-end company shall issue any of its securities (1) for services; or (2) for property other than cash or securities (including securities of which such registered company is the issuer), except as a dividend or distribution to its security holders or in connection with a reorganization.
Investment Company Act of 1940
Section 23 ‘Distribution and Repurchase of Securities: Closed-End Companies’
No registered closed-end company shall issue any of its securities (1) for services; or (2) for property other than cash or securities (including securities of which such registered company is the issuer), except as a dividend or distribution to its security holders or in connection with a reorganization.
In accordance with the provisions of Finra Rule # 2080 ‘Obtaining an Order of Expungement of Customer Dispute Information from the Central Registration Depository (CRD) System’, Members or associated persons seeking to expunge information from the CRD system arising from disputes with customers must obtain an order directing such expungement or confirming an arbitration award containing expungement relief. From whom, the aforesaid order should be obtained:
2080. Obtaining an Order of Expungement of Customer Dispute Information from the Central Registration Depository (CRD) System:
Members or associated persons seeking to expunge information from the CRD system arising from disputes with customers must obtain an order from a court of competent jurisdiction directing such expungement or confirming an arbitration award containing expungement relief.
2080. Obtaining an Order of Expungement of Customer Dispute Information from the Central Registration Depository (CRD) System:
Members or associated persons seeking to expunge information from the CRD system arising from disputes with customers must obtain an order from a court of competent jurisdiction directing such expungement or confirming an arbitration award containing expungement relief.
In accordance with the provisions of Section 4 ‘Classification of Investment Company’ under the Investment Company Act of 1940, Which one of the undermentioned terms is used to refer an investment company which is engaged or proposes to engage in the business of issuing face-amount certificates of the installment type, or which has been engaged in such business and has any such certificate outstanding?
“Face-amount certificate company” means an investment company which is engaged or proposes to engage in the business of issuing face-amount certificates of the installment type, or which has been engaged in such business and has any such certificate outstanding.
“Face-amount certificate company” means an investment company which is engaged or proposes to engage in the business of issuing face-amount certificates of the installment type, or which has been engaged in such business and has any such certificate outstanding.
In accordance with the provisions related to ‘Notification of registration; effective date of registration’ of Section 8 ‘Registration of Investment Companies’ under the Investment Company Act of 1940, Any investment company organized or otherwise created under the laws of the United States or of a State may register for the purposes of this subchapter by filing notification of registration. By whom such notification should be filed?
Any investment company organized or otherwise created under the laws of the United States or of a State may register for the purposes of this subchapter by filing with the Commission a notification of registration, in such form as the Commission shall by rules and regulations prescribe as necessary or appropriate in the public interest or for the protection of investors.
Any investment company organized or otherwise created under the laws of the United States or of a State may register for the purposes of this subchapter by filing with the Commission a notification of registration, in such form as the Commission shall by rules and regulations prescribe as necessary or appropriate in the public interest or for the protection of investors.
In accordance with the provisions related to ‘Distribution by an investment company of securities of which it is issuer’ of Section 12 ‘Functions and Activities of Investment Companies’ under the Investment Company Act of 1940, By which of the undermentioned way it shall be lawful for any registered open-end company (other than a company complying with the provisions of section 80a–10(d) of this title) to act as a distributor of securities of which it is the issuer?
Investment Company Act of 1940
Section 12—Functions and Activities of Investment Companies
It shall be unlawful for any registered investment company, in contravention of such rules and regulations or orders as the Commission may prescribe as necessary or appropriate in the public interest or for the protection of investors—
(1) to purchase any security on margin, except such short-term credits as are necessary for the clearance of transactions;
(2) to participate on a joint or a joint and several basis in any trading account in securities, except in connection with an underwriting in which such registered company is a participant; or
(3) to effect a short sale of any security, except in connection with an underwriting in which such registered company is a participant.
Investment Company Act of 1940
Section 12—Functions and Activities of Investment Companies
It shall be unlawful for any registered investment company, in contravention of such rules and regulations or orders as the Commission may prescribe as necessary or appropriate in the public interest or for the protection of investors—
(1) to purchase any security on margin, except such short-term credits as are necessary for the clearance of transactions;
(2) to participate on a joint or a joint and several basis in any trading account in securities, except in connection with an underwriting in which such registered company is a participant; or
(3) to effect a short sale of any security, except in connection with an underwriting in which such registered company is a participant.
In accordance with the provisions related to ‘Responsibility of Member to Investigate Applicants for Registration’ under Rule-3110 ‘Supervision’ of Finra By-Laws, The member shall also review an applicant’s employment experience to determine if the applicant has been recently employed by a Futures Commission Merchant or an Introducing Broker that is notice-registered with the SEC pursuant to Section 15(b)(11) of the Exchange Act. In such a case, the member shall also review a copy of the applicant’s most recent CFTC Form 8-T, including any amendments thereto. Within how much time such review should be done?
The term “investment banking services” shall include, without limitation, acting as an underwriter, participating in a selling group in an offering for the issuer, or otherwise acting in furtherance of a public offering of the issuer; acting as a financial adviser in a merger or acquisition; providing venture capital or equity lines of credit or serving as placement agent for the issuer or otherwise acting in furtherance of a private offering of the issuer.
The term “investment banking services” shall include, without limitation, acting as an underwriter, participating in a selling group in an offering for the issuer, or otherwise acting in furtherance of a public offering of the issuer; acting as a financial adviser in a merger or acquisition; providing venture capital or equity lines of credit or serving as placement agent for the issuer or otherwise acting in furtherance of a private offering of the issuer.
In accordance with the provisions related to ‘Internal Inspections’ under Rule-3110 ‘Supervision’ of Finra By-Laws, Each member shall conduct a review of the businesses in which it engages. The review shall be reasonably designed to assist the member in detecting and preventing violations of, and achieving compliance with, applicable securities laws and regulations, and with applicable FINRA rules. Of whom inspection should be done at least annually (on a calendar-year basis)?
Each member shall inspect on a regular periodic schedule every non-branch location. In establishing such schedule, the member shall consider the nature and complexity of the securities activities for which the location is responsible and the nature and extent of contact with customers. The member’s written supervisory and inspection procedures shall set forth the schedule and an explanation regarding how the member determined the frequency of the examination.
Each member shall inspect on a regular periodic schedule every non-branch location. In establishing such schedule, the member shall consider the nature and complexity of the securities activities for which the location is responsible and the nature and extent of contact with customers. The member’s written supervisory and inspection procedures shall set forth the schedule and an explanation regarding how the member determined the frequency of the examination.
In accordance with the provisions related to ‘Annual Certification Requirement’ under Rule-3130 ‘Annual Certification of Compliance and Supervisory Processes’ of Finra By-Laws, Each member shall have its chief executive officer certify annually that the chief executive officer has conducted one or more meetings to discuss such processes designed to achieve compliance with applicable FINRA rules, MSRB rules and federal securities laws and regulations. In How much time such a meeting should be conducted?
Each member shall have its chief executive officer(s) (or equivalent officer(s)) certify annually,1 as set forth in paragraph (c), that the member has in place processes to establish, maintain, review, test and modify written compliance policies and written supervisory procedures reasonably designed to achieve compliance with applicable FINRA rules, MSRB rules and federal securities laws and regulations, and that the chief executive officer(s) has conducted one or more meetings with the chief compliance officer(s) in the preceding 12 months to discuss such processes.
Each member shall have its chief executive officer(s) (or equivalent officer(s)) certify annually,1 as set forth in paragraph (c), that the member has in place processes to establish, maintain, review, test and modify written compliance policies and written supervisory procedures reasonably designed to achieve compliance with applicable FINRA rules, MSRB rules and federal securities laws and regulations, and that the chief executive officer(s) has conducted one or more meetings with the chief compliance officer(s) in the preceding 12 months to discuss such processes.
In accordance with the provisions under Rule-9523 ‘Acceptance of Member Regulation Recommendations and Supervisory Plans by Consent Pursuant to SEA Rule 19h-1’ of Finra By-Laws, If the recommendation and supervisory plan is accepted by the National Adjudicatory Council or the Chairman of the Statutory Disqualification Committee, What will be the status of such recommendation and supervisory plan?
If the recommendation and supervisory plan is accepted by the National Adjudicatory Council or the Chairman of the Statutory Disqualification Committee, it shall be deemed final and, where required, the proposed Notice under SEA Rule 19h-1 will be filed by FINRA.
If the recommendation and supervisory plan is accepted by the National Adjudicatory Council or the Chairman of the Statutory Disqualification Committee, it shall be deemed final and, where required, the proposed Notice under SEA Rule 19h-1 will be filed by FINRA.
In accordance with the provisions under Rule-9525 ‘Discretionary Review by the FINRA Board’ of Finra By-Laws, Which one of the undermentioned authorities have the power to call an eligibility proceeding for review by the FINRA Board if the call for review is made within the prescribed period?
A Governor may call an eligibility proceeding for review by the FINRA Board if the call for review is made within the prescribed period.
A Governor may call an eligibility proceeding for review by the FINRA Board if the call for review is made within the prescribed period.
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