Conduct and Practices Handbook Course (CPH) Quiz 22

In accordance with the provisions related to Disciplinary Actions under Rule-1240 ‘Continuing Education Requirements’ of Finra Rules, Unless otherwise determined by FINRA, a covered person, other than a person designated as eligible for a waiver pursuant to Rule 1210.09, will be required to retake the Regulatory Element and satisfy all of its requirements in the event such person is subject to any statutory disqualification under Section 3(a)(39) of the Exchange Act; In how much time the retaking of the Regulatory Element shall commence?

In accordance with the provisions related to Disciplinary Actions under Rule-1240 ‘Continuing Education Requirements’ of Finra Rules, Unless otherwise determined by FINRA, a covered person, other than a person designated as eligible for a waiver pursuant to Rule 1210.09, will be required to retake the Regulatory Element and satisfy all of its requirements in the event such person is ordered as a sanction in a disciplinary action to retake the Regulatory Element by any securities governmental agency or self-regulatory organization. The date of the disciplinary action shall be treated as such one of the undermentioned option:

In accordance with the provisions related to Specific Training Requirements under Rule-1240 ‘Continuing Education Requirements’ of Finra Rules, Which one of the undermentioned authority has the power to require a member, individually or as part of a larger group, to provide specific training to its covered registered persons in such areas as that authority deems appropriate?

In accordance with the provisions related to ‘Notice Regarding an Associated Person’ under Rule-9522 ‘Initiation of Eligibility Proceeding of Finra By-Laws, A notice issued regarding a disqualified person to a member or applicant for membership under Rule 1013 shall state that such member or applicant for membership may file an application on behalf of itself and such person. Which one of the undermentioned time-period is allowed for filing the aforesaid application?

In accordance with the provisions related to ‘Notice Regarding an Associated Person’ under Rule-9522 ‘Initiation of Eligibility Proceeding of Finra By-Laws, A notice issued regarding a disqualified person to a member or applicant for membership shall state that such member or applicant for membership may file an application on behalf of itself and such person, within ten business days after service of the notice. If the member fails to file the application, within the 10-day period, what will be the effect on the membership?

In accordance with the provisions related to ‘Notice Regarding an Associated Person’ under Rule-9522 ‘Initiation of Eligibility Proceeding of Finra By-Laws, If the member fails to file the application within ten business days after service of the notice, the registration of the disqualified person shall be revoked. Which one of the undermentioned has the authority to grant an extension for good cause shown?

In accordance with the provisions related to ‘Obligation of Member to Initiate Proceeding’ under Rule-9522 ‘Initiation of Eligibility Proceeding of Finra By-Laws, any disqualifications arising solely from findings or orders specified in Section 15(b)(4)(D), (E), or (H) of the Exchange Act or arising under Section 3(a)(39)(E) of the Exchange Act, a member shall not file an application unless instructed to do so. By which one of the undermentioned options such instructions will be given?

In accordance with the provisions related to ‘Withdrawal of Application’ under Rule-9522 ‘Initiation of Eligibility Proceeding of Finra By-Laws, A member may withdraw its application or written request for relief prior to a hearing by filing a written notice with RAD pursuant to Rules 9135, 9136, and 9137. During which one of the undermentioned time periods, such application can be withdrawn?

In accordance with the provisions related to ‘Withdrawal of Application’ under Rule-9522 ‘Initiation of Eligibility Proceeding of Finra By-Laws, A member may withdraw its application after the start of a hearing but prior to the issuance of a decision by the National Adjudicatory Council by filing a written notice. With whom such notice should be filed?

In accordance with the provisions related to ‘ Rights of Disqualified Member, Sponsoring Member, Disqualified Person, and Department of Member Regulation’ under Rule-9522 ‘Initiation of Eligibility Proceeding of Finra By-Laws, In the event the Department of Member Regulation does not approve a written request for relief from the eligibility requirements pursuant to paragraph (e)(1), the disqualified member or sponsoring member may file an application, and such member shall have the right to proceed under Rule 9523 or 9524, as applicable. In the aforesaid circumstances, which one of the undermentioned authority may require a disqualified member or sponsoring member to file an application with RAD?

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 are rejected by the Chairman of the Statutory Disqualification Committee or the National Adjudicatory Council, Which one of the undermentioned authority may take any other appropriate action with respect to the disqualified member, sponsoring member, and/or disqualified person?

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?

In accordance with the provisions related to ‘Hearing Panel Consideration’ under Rule-9524 ‘National Adjudicatory Council Consideration’ of Finra By-Laws, When the disqualified member, sponsoring firm, or applicant requests a hearing, the National Adjudicatory Council or the Review Subcommittee shall appoint a Hearing Panel composed of members, who shall be current or former members of the National Adjudicatory Council or the Statutory Disqualification Committee or former Directors or Governors. How many members should be in the Hearing Panel?

In accordance with the provisions related to ‘Notice of Hearing’ under Rule-9524 ‘National Adjudicatory Council Consideration’ of Finra By-Laws, The disqualified member or sponsoring member, as the case may be, and the Department of Member Regulation shall be notified via mail, facsimile, or an overnight courier of the location, time and the date of hearing. What is the time duration in which the aforesaid parties should be notified?

In accordance with the provisions related to ‘Transmission of Documents’ under Rule-9524 ‘National Adjudicatory Council Consideration’ of Finra By-Laws, the Department of Member Regulation, which shall act as a Party in the eligibility proceeding, and the disqualified member or sponsoring member, as the case may be, shall serve proposed exhibit and witness lists on each other and the Office of General Counsel. During how much time, The exhibit and witness lists shall be served?

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?

In accordance with the provisions of Rule-9525 ‘Discretionary Review by the FINRA Board’ under Finra By-Laws, A Governor may call an eligibility proceeding for review by the FINRA Board. The aforesaid call for review shall be made not later than the next meeting of the FINRA Board. Which one of the undermentioned time period is prescribed for such meeting of the FINRA Board?

In accordance with the provisions of Rule-9525 ‘Discretionary Review by the FINRA Board’ under Finra By-Laws, A Governor may call an eligibility proceeding for review by the FINRA Board. The aforesaid call for review shall be made not later than the next meeting of the FINRA Board. Which one of the undermentioned time period is prescribed for such meeting of the FINRA Board?

In accordance with the provisions of Rule-9525 ‘Discretionary Review by the FINRA Board’ under Finra By-Laws, A Governor shall make his or her call for review not later than the next meeting of the FINRA Board that is at least 15 days after the date on which the FINRA Board receives the proposed written decision of the National Adjudicatory Council. By which of the undermentioned way the FINRA Board may shorten the period to less than 15 days?

In accordance with the provisions of Rule-9525 ‘Discretionary Review by the FINRA Board’ under Finra By-Laws, A Governor shall make his or her call for review not later than the next meeting of the FINRA Board that is at least 15 days after the date on which the FINRA Board receives the proposed written decision of the National Adjudicatory Council. By which of the undermentioned way the FINRA Board may, during the 15 day period, extend the period to more than 15 days?

In accordance with the provisions related to ‘Issuance of Decision’ of Rule-9525 ‘Discretionary Review by the FINRA Board’ under Finra By-Laws, The FINRA Board shall issue and serve its written decision on the disqualified member, sponsoring member, and/or disqualified person, as the case may be, and the Department of Member Regulation. What’s the status of such a decision?

In accordance with the provisions related to ‘Issuance of Decision’ of Rule-9525 ‘Discretionary Review by the FINRA Board’ under Finra By-Laws, The FINRA Board shall issue and serve its written decision on the disqualified member, sponsoring member, and/or disqualified person, as the case may be, and the Department of Member Regulation. The decision shall constitute the final action of FINRA, unless:

In accordance with the provisions related to ‘Direction by Executive Committee’ of Rule-9526 ‘Expedited Review’ under Finra By-Laws, the FINRA Board Executive Committee, upon request of the Statutory Disqualification Committee, may direct an expedited review of a recommended written decision of the Statutory Disqualification Committee if the FINRA Board Executive Committee determines that:

In accordance with the provisions related to ‘Call for Review Period’ of Rule-9526 ‘Expedited Review’ under Finra By-Laws, the FINRA Board Executive Committee, upon request of the Statutory Disqualification Committee, may direct an expedited review of a recommended written decision of the Statutory Disqualification Committee. If a recommended decision is subject to expedited review, Which one of the undermentioned authorities have the power to call the eligibility proceeding for review?

In accordance with the provisions related to ‘Call for Review Period’ of Rule-9526 ‘Expedited Review’ under Finra By-Laws, the FINRA Board Executive Committee, upon request of the Statutory Disqualification Committee, may direct an expedited review of a recommended written decision of the Statutory Disqualification Committee. If a recommended decision is subject to expedited review, During how much time duration a Governor may call the eligibility proceeding for review?

In accordance with the provisions related to ‘No Call for Review’ of Rule-9526 ‘Expedited Review’ under Finra By-Laws, the FINRA Board Executive Committee, If no Governor calls the proceeding for review within the time prescribed, the decision shall become final, and the Statutory Disqualification Committee shall serve the decision on the disqualified member, sponsoring member, and/or disqualified person, as the case may be, and the Department of Member Regulation. When the aforesaid decision will be effective?

In accordance with the provisions related to ‘Call for Review’ of Rule-9526 ‘Expedited Review’ under Finra By-Laws, If a Governor calls the eligibility proceeding for review within the prescribed time, a review panel shall meet and conduct a review. During how much time the aforesaid review should be conducted?

In accordance with the provisions related to Rule-9527 ‘Application to SEC for Review’ under Finra By-Laws, The right to have any action reviewed by the SEC is governed by Section 19 of the Exchange Act. What will be the effect of filing the aforesaid application on the final action by FINRA?

In accordance with the provisions related to Rule-9527 ‘Application to SEC for Review’ under Finra By-Laws, The right to have any action reviewed by the SEC is governed by Section 19 of the Exchange Act. The filing of an application for review shall not stay the effectiveness of final action by FINRA, unless:

In accordance with the provisions related to Rule-2060 ‘Use of Information Obtained in Fiduciary Capacity’, A member who in the capacity of paying agent, transfer agent, trustee, or in any other similar capacity, has received information as to the ownership of securities, shall under no circumstances make use of such information for the purpose of soliciting purchases, sales or exchanges. Under which one of the undermentioned situation such information can be used?