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Finra Series 24 Full Excess
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Question 1 of 30
1. Question
In accordance with the provisions related to ‘Review’ of Finra Rule – 9313 ‘Counsel to National Adjudicatory Council’, A Party seeking the review of a decision of a Counsel to the National Adjudicatory Council may make a motion. To whom such a motion should be made?
Correct
Finra Rule – 9313 ‘Counsel to National Adjudicatory Council’
Review:
A party seeking the review of a decision of a Counsel to the National Adjudicatory Council may make a motion to the National Adjudicatory Council, the Review Subcommittee, a Subcommittee or, if applicable, an Extended Proceeding Committee.Incorrect
Finra Rule – 9313 ‘Counsel to National Adjudicatory Council’
Review:
A party seeking the review of a decision of a Counsel to the National Adjudicatory Council may make a motion to the National Adjudicatory Council, the Review Subcommittee, a Subcommittee or, if applicable, an Extended Proceeding Committee. -
Question 2 of 30
2. Question
In accordance with the provisions related to ‘Call for Review – Rule 9268 Decision’ of Finra Rule – 9312 ‘Review Proceeding Initiated By Adjudicatory Council’, Within how much time a decision issued pursuant to Rule 9268 shall be subject to a call for review?
Correct
Finra Rule – 9312 ‘Review Proceeding Initiated By Adjudicatory Council’
Call for Review – Rule 9268 Decision:
A decision issued pursuant to Rule 9268 shall be subject to a call for review within 45 days after the date of service of the decision.Incorrect
Finra Rule – 9312 ‘Review Proceeding Initiated By Adjudicatory Council’
Call for Review – Rule 9268 Decision:
A decision issued pursuant to Rule 9268 shall be subject to a call for review within 45 days after the date of service of the decision. -
Question 3 of 30
3. Question
In accordance with the provisions related to ‘Call for Review – Rule 9269 Decision’ of Finra Rule – 9312 ‘Review Proceeding Initiated By Adjudicatory Council’, If called for a review, By whom such decision shall be reviewed?
Correct
Finra Rule – 9312 ‘Review Proceeding Initiated By Adjudicatory Council’
Call for Review – Rule 9269 Decision:
If called for a review, such decision shall be reviewed by the Review Subcommittee or the National Adjudicatory Council.Incorrect
Finra Rule – 9312 ‘Review Proceeding Initiated By Adjudicatory Council’
Call for Review – Rule 9269 Decision:
If called for a review, such decision shall be reviewed by the Review Subcommittee or the National Adjudicatory Council. -
Question 4 of 30
4. Question
In accordance with the provisions related to ‘Requirements’ of Finra Rule – 9312 ‘Review Proceeding Initiated By Adjudicatory Council’, If a member of the National Adjudicatory Council, a member of the Review Subcommittee, or, for a disciplinary proceeding decided under Rule 9269, Which one of the undermentioned authorities shall determine to call a case for review?
Correct
Finra Rule – 9312 ‘Review Proceeding Initiated By Adjudicatory Council’
Requirements:
If a member of the National Adjudicatory Council, a member of the Review Subcommittee, or, for a disciplinary proceeding decided under Rule 9269, the General Counsel determines to call a case for review.Incorrect
Finra Rule – 9312 ‘Review Proceeding Initiated By Adjudicatory Council’
Requirements:
If a member of the National Adjudicatory Council, a member of the Review Subcommittee, or, for a disciplinary proceeding decided under Rule 9269, the General Counsel determines to call a case for review. -
Question 5 of 30
5. Question
In accordance with the provisions related to ‘Requirements’ of Finra Rule – 9312 ‘Review Proceeding Initiated By Adjudicatory Council’, Parties may submit motions challenging requests for briefing made by the General Counsel under this Rule of issues that were not previously set forth in the notice of appeal. To whom such motions should be submitted?
Correct
Finra Rule – 9312 ‘Review Proceeding Initiated By Adjudicatory Council’
Requirements:
Parties may submit motions to either the Review Subcommittee or the National Adjudicatory Council challenging requests for briefing made by the General Counsel under this Rule of issues that were not previously set forth in the notice of appeal.Incorrect
Finra Rule – 9312 ‘Review Proceeding Initiated By Adjudicatory Council’
Requirements:
Parties may submit motions to either the Review Subcommittee or the National Adjudicatory Council challenging requests for briefing made by the General Counsel under this Rule of issues that were not previously set forth in the notice of appeal. -
Question 6 of 30
6. Question
In accordance with the provisions related to ‘Effect of Withdrawal of Notice of Appeal, Cross-Appeal’ of Finra Rule – 9312 ‘Review Proceeding Initiated By Adjudicatory Council’, Who shall have the right to call for review a decision issued pursuant to Rule 9269 in accordance with Rule 9312(a)(2), except that the 25-day period during which a call for review may be made shall begin on the day FINRA receives the last filed notice of withdrawal of appeal or, if applicable, the last filed notice of withdrawal of cross-appeal?
Correct
Finra Rule – 9312 ‘Review Proceeding Initiated By Adjudicatory Council’
Effect of Withdrawal of Notice of Appeal, Cross-Appeal:
The General Counsel shall have the right to call for review a decision issued pursuant to Rule 9269 in accordance with Rule 9312(a)(2), except that the 25-day period during which a call for review may be made shall begin on the day FINRA receives the last filed notice of withdrawal of appeal or, if applicable, the last filed notice of withdrawal of cross-appeal.Incorrect
Finra Rule – 9312 ‘Review Proceeding Initiated By Adjudicatory Council’
Effect of Withdrawal of Notice of Appeal, Cross-Appeal:
The General Counsel shall have the right to call for review a decision issued pursuant to Rule 9269 in accordance with Rule 9312(a)(2), except that the 25-day period during which a call for review may be made shall begin on the day FINRA receives the last filed notice of withdrawal of appeal or, if applicable, the last filed notice of withdrawal of cross-appeal. -
Question 7 of 30
7. Question
In accordance with the provisions related to ‘Withdrawal of Notice of Appeal or Cross-Appeal’ of Finra Rule – 9311 ‘Appeal by Any Party; Cross-Appeal’, A Party may withdraw a notice of appeal or a notice of cross-appeal filed by him or her at any time by filing a written notice of withdrawal of appeal or cross-appeal. With whom the aforesaid notice should be filed?
Correct
Finra Rule – 9311 ‘Appeal by Any Party; Cross-Appeal’
Withdrawal of Notice of Appeal or Cross-Appeal:
A Party may withdraw a notice of appeal or a notice of cross-appeal filed by him or her at any time by filing a written notice of withdrawal of appeal or cross-appeal with the Office of Hearing Officers and serving notice thereof on the Parties.Incorrect
Finra Rule – 9311 ‘Appeal by Any Party; Cross-Appeal’
Withdrawal of Notice of Appeal or Cross-Appeal:
A Party may withdraw a notice of appeal or a notice of cross-appeal filed by him or her at any time by filing a written notice of withdrawal of appeal or cross-appeal with the Office of Hearing Officers and serving notice thereof on the Parties. -
Question 8 of 30
8. Question
In accordance with the provisions related to ‘Waiver of Issues Not Raised’ of Finra Rule – 9311 ‘Appeal by Any Party; Cross-Appeal’, Which one of the undermentioned authority may, in its discretion, deem waived any issue not raised in the notice of appeal or cross-appeal?
Correct
Finra Rule – 9311 ‘Appeal by Any Party; Cross-Appeal’
Waiver of Issues Not Raised:
The National Adjudicatory Council may, in its discretion, deem waived any issue not raised in the notice of appeal or cross-appeal.Incorrect
Finra Rule – 9311 ‘Appeal by Any Party; Cross-Appeal’
Waiver of Issues Not Raised:
The National Adjudicatory Council may, in its discretion, deem waived any issue not raised in the notice of appeal or cross-appeal. -
Question 9 of 30
9. Question
In accordance with the provisions related to ‘Time to File Notice of Appeal’ of Finra Rule – 9311 ‘Appeal by Any Party; Cross-Appeal’, A Respondent or the Department of Enforcement may file a written notice of appeal. Within how much time such notice should be filed?
Correct
A Respondent or the Department of Enforcement may file a written notice of appeal within 25 days after service of a decision issued pursuant to Rule 9268 or Rule 9269.
Incorrect
A Respondent or the Department of Enforcement may file a written notice of appeal within 25 days after service of a decision issued pursuant to Rule 9268 or Rule 9269.
-
Question 10 of 30
10. Question
In accordance with the provisions related to ‘Notice of Cross-Appeal’ of Finra Rule – 9311 ‘Appeal by Any Party; Cross-Appeal’, A Party who is served with a notice of appeal may file a written notice of cross-appeal and serve the notice of cross-appeal on the Parties. Within how much time such notice of cross-appeal shall be filed?
Correct
Finra Rule – 9311 ‘Appeal by Any Party; Cross-Appeal’
Notice of Cross-Appeal:
A party who is served with a notice of appeal may file a written notice of cross-appeal and serve the notice of cross-appeal on the Parties. The notice of cross-appeal shall be filed within five days after service of the notice of appeal.Incorrect
Finra Rule – 9311 ‘Appeal by Any Party; Cross-Appeal’
Notice of Cross-Appeal:
A party who is served with a notice of appeal may file a written notice of cross-appeal and serve the notice of cross-appeal on the Parties. The notice of cross-appeal shall be filed within five days after service of the notice of appeal. -
Question 11 of 30
11. Question
In accordance with the provisions related to Finra Rule – 14105 ‘Effect of Mediation on Arbitration Proceedings’, If mediation is conducted through FINRA, which one of the undermentioned statement is correct regarding the postponement fees to be charged for staying the arbitration in order to mediate?
Correct
Finra Rule – 14105 ‘Effect of Mediation on Arbitration Proceedings’
If mediation is conducted through FINRA, no postponement fees will be charged for staying the arbitration in order to mediate.Incorrect
Finra Rule – 14105 ‘Effect of Mediation on Arbitration Proceedings’
If mediation is conducted through FINRA, no postponement fees will be charged for staying the arbitration in order to mediate. -
Question 12 of 30
12. Question
In accordance with the provisions related to Finra Rule – 14104 ‘Mediation under the Code’, A matter is submitted to mediation when an executed Submission Agreement from each party has been received. To whom such agreement should be received?
Correct
Finra Rule – 14104 ‘Mediation under the Code’
A matter is submitted to mediation when the Director receives an executed Submission Agreement from each party.Incorrect
Finra Rule – 14104 ‘Mediation under the Code’
A matter is submitted to mediation when the Director receives an executed Submission Agreement from each party. -
Question 13 of 30
13. Question
In accordance with the provisions related to Finra Rule – 14104 ‘Mediation under the Code’, which one of the undermentioned statement not correct regarding mediation under the Code?
Correct
Finra Rule – 14104 ‘Mediation under the Code’
Mediation under the Code is voluntary, and requires the written agreement of all parties. No party may be compelled to participate in a mediation or to settle a matter by FINRA, or by any mediator appointed to mediate a matter pursuant to the Code.Incorrect
Finra Rule – 14104 ‘Mediation under the Code’
Mediation under the Code is voluntary, and requires the written agreement of all parties. No party may be compelled to participate in a mediation or to settle a matter by FINRA, or by any mediator appointed to mediate a matter pursuant to the Code. -
Question 14 of 30
14. Question
In accordance with the provisions related to Finra Rule – 14109 ‘Mediation Ground Rules’, The mediator may meet with and communicate separately with each party or the party’s representative. To whom the mediator shall notify of any such separate meetings or other communications?
Correct
Finra Rule – 14109 ‘Mediation Ground Rules’
The mediator may meet with and communicate separately with each party or the party’s representative. The mediator shall notify all other parties of any such separate meetings or other communications.Incorrect
Finra Rule – 14109 ‘Mediation Ground Rules’
The mediator may meet with and communicate separately with each party or the party’s representative. The mediator shall notify all other parties of any such separate meetings or other communications. -
Question 15 of 30
15. Question
In accordance with the provisions related to ‘Increases in Amount in Dispute’ of Finra Rule – 12800 ‘Simplified Arbitration’, If a three-arbitrator panel is required or requested under Rule 12401, By whom the remaining arbitrators will be appointed in accordance with Rule 12403?
Correct
Finra Rule – 12800 ‘Simplified Arbitration’
Increases in Amount in Dispute:
If a three-arbitrator panel is required or requested under Rule 12401, the remaining arbitrators will be appointed by the Director in accordance with Rule 12403.Incorrect
Finra Rule – 12800 ‘Simplified Arbitration’
Increases in Amount in Dispute:
If a three-arbitrator panel is required or requested under Rule 12401, the remaining arbitrators will be appointed by the Director in accordance with Rule 12403. -
Question 16 of 30
16. Question
In accordance with the provisions related to ‘Discovery and Additional Evidence’ of Finra Rule – 12800 ‘Simplified Arbitration’, Any response or objection to a discovery request must be served on all other parties. Within how much time such response or objection should be filed with the Director?
Correct
Finra Rule – 12800 ‘Simplified Arbitration’
Discovery and Additional Evidence:
Any response or objection to a discovery request must be served on all other parties and filed with the Director within 10 days of the receipt of the requests.Incorrect
Finra Rule – 12800 ‘Simplified Arbitration’
Discovery and Additional Evidence:
Any response or objection to a discovery request must be served on all other parties and filed with the Director within 10 days of the receipt of the requests. -
Question 17 of 30
17. Question
In accordance with the provisions related to ‘Discovery and Additional Evidence’ of Finra Rule – 12800 ‘Simplified Arbitration’, The parties may request documents and other information from each other. With whom parties must not file the documents?
Correct
Finra Rule – 12800 ‘Simplified Arbitration’
Discovery and Additional Evidence:
Document Production Lists, described in Rule 12506, do not apply to arbitrations subject to this rule. However, the arbitrator may, in his or her discretion, choose to use relevant portions of the Document Production Lists in a manner consistent with the expedited nature of simplified proceedings.Incorrect
Finra Rule – 12800 ‘Simplified Arbitration’
Discovery and Additional Evidence:
Document Production Lists, described in Rule 12506, do not apply to arbitrations subject to this rule. However, the arbitrator may, in his or her discretion, choose to use relevant portions of the Document Production Lists in a manner consistent with the expedited nature of simplified proceedings. -
Question 18 of 30
18. Question
In accordance with the provisions related to ‘Supervisory Procedures Regarding the Tape Recording of Conversations’ of Finra Rule – 3170 ‘Tape Recording of Registered Persons by Certain Firms’, A taping firm required to establish, maintain, and enforce special written procedures pursuant to this paragraph must establish and implement the procedures. Within how much time the aforesaid tasks should be completed?
Correct
Finra Rule – 3170 ‘Tape Recording of Registered Persons by Certain Firms’
Supervisory Procedures Regarding the Tape Recording of Conversations:
A taping firm required to establish, maintain and enforce special written procedures pursuant to this paragraph must establish and implement the procedures within 60 days of receiving notice from FINRA or obtaining actual knowledge that it is a taping firm.Incorrect
Finra Rule – 3170 ‘Tape Recording of Registered Persons by Certain Firms’
Supervisory Procedures Regarding the Tape Recording of Conversations:
A taping firm required to establish, maintain and enforce special written procedures pursuant to this paragraph must establish and implement the procedures within 60 days of receiving notice from FINRA or obtaining actual knowledge that it is a taping firm. -
Question 19 of 30
19. Question
In accordance with the provisions related to ‘Supervisory Procedures Regarding the Tape Recording of Conversations’ of Finra Rule – 3170 ‘Tape Recording of Registered Persons by Certain Firms’, Fow how much time all tape recordings made pursuant to the requirements of the aforesaid rule shall be retained?
Correct
Finra Rule – 3170 ‘Tape Recording of Registered Persons by Certain Firms’
Supervisory Procedures Regarding the Tape Recording of Conversations:
All tape recordings made pursuant to the requirements of this paragraph shall be retained for a period of not less than three years from the date the tape was created, the first two years in an easily accessible place.Incorrect
Finra Rule – 3170 ‘Tape Recording of Registered Persons by Certain Firms’
Supervisory Procedures Regarding the Tape Recording of Conversations:
All tape recordings made pursuant to the requirements of this paragraph shall be retained for a period of not less than three years from the date the tape was created, the first two years in an easily accessible place. -
Question 20 of 30
20. Question
In accordance with the provisions related to ‘Supervisory Procedures Regarding the Tape Recording of Conversations’ of Finra Rule – 3170 ‘Tape Recording of Registered Persons by Certain Firms’, By which of the undermentioned timeline, each taping firm subject to the requirements of the aforesaid rule of Finra shall submit to FINRA a report on the taping firm’s supervision of the telemarketing activities of its registered persons?
Correct
Finra Rule – 3170 ‘Tape Recording of Registered Persons by Certain Firms’
Supervisory Procedures Regarding the Tape Recording of Conversations:
By the 30th day of the month following the end of each calendar quarter, each taping firm subject to the requirements of this paragraph shall submit to FINRA a report on the taping firm’s supervision of the telemarketing activities of its registered persons.Incorrect
Finra Rule – 3170 ‘Tape Recording of Registered Persons by Certain Firms’
Supervisory Procedures Regarding the Tape Recording of Conversations:
By the 30th day of the month following the end of each calendar quarter, each taping firm subject to the requirements of this paragraph shall submit to FINRA a report on the taping firm’s supervision of the telemarketing activities of its registered persons. -
Question 21 of 30
21. Question
In accordance with the provisions related to ‘Supervisory Procedures Regarding the Tape Recording of Conversations’ of Finra Rule – 3170 ‘Tape Recording of Registered Persons by Certain Firms’, Within how much time a member, that becomes a taping firm for the first time, may reduce its staffing levels to fall below the threshold levels?
Correct
Finra Rule – 3170 ‘Tape Recording of Registered Persons by Certain Firms’
Supervisory Procedures Regarding the Tape Recording of Conversations:
A member that becomes a taping firm for the first time may reduce its staffing levels to fall below the threshold levels within 30 days after receiving notice from FINRA.Incorrect
Finra Rule – 3170 ‘Tape Recording of Registered Persons by Certain Firms’
Supervisory Procedures Regarding the Tape Recording of Conversations:
A member that becomes a taping firm for the first time may reduce its staffing levels to fall below the threshold levels within 30 days after receiving notice from FINRA. -
Question 22 of 30
22. Question
In accordance with the provisions related to ‘Supervisory Procedures Regarding the Tape Recording of Conversations’ of Finra Rule – 3170 ‘Tape Recording of Registered Persons by Certain Firms’, Once the member has reduced its staffing levels to fall below the threshold levels, for how much time it shall not rehire a person terminated to accomplish the staff reduction?
Correct
Finra Rule – 3170 ‘Tape Recording of Registered Persons by Certain Firms’
Supervisory Procedures Regarding the Tape Recording of Conversations:
Once the member has reduced its staffing levels to fall below the threshold levels, it shall not rehire a person terminated to accomplish the staff reduction for a period of 180 days.Incorrect
Finra Rule – 3170 ‘Tape Recording of Registered Persons by Certain Firms’
Supervisory Procedures Regarding the Tape Recording of Conversations:
Once the member has reduced its staffing levels to fall below the threshold levels, it shall not rehire a person terminated to accomplish the staff reduction for a period of 180 days. -
Question 23 of 30
23. Question
In accordance with the provisions related to Finra Rule – 4511 ‘General Requirements’, For how much time period members shall preserve FINRA books and records under the FINRA rules or applicable Exchange Act rules?
Correct
Finra Rule – 4511 ‘General Requirements’
Members shall preserve for a period of at least six years those FINRA books and records for which there is no specified period under the FINRA rules or applicable Exchange Act rules.Incorrect
Finra Rule – 4511 ‘General Requirements’
Members shall preserve for a period of at least six years those FINRA books and records for which there is no specified period under the FINRA rules or applicable Exchange Act rules. -
Question 24 of 30
24. Question
In accordance with the provisions related to Finra Rule – 4513 ‘Records of Written Customer Complaints’, Fow how much time customer complaint records shall be preserved?
Correct
Finra Rule – 4513 ‘Records of Written Customer Complaints’
“customer complaint” means any grievance by a customer or any person authorized to act on behalf of the customer involving the activities of the member or a person associated with the member in connection with the solicitation or execution of any transaction or the disposition of securities or funds of that customer.Incorrect
Finra Rule – 4513 ‘Records of Written Customer Complaints’
“customer complaint” means any grievance by a customer or any person authorized to act on behalf of the customer involving the activities of the member or a person associated with the member in connection with the solicitation or execution of any transaction or the disposition of securities or funds of that customer. -
Question 25 of 30
25. Question
In accordance with the provisions related to Finra Rule – 4517 ‘Member Filing and Contact Information Requirements’, What is the maximum time period allowed to each member during which it shall update its required contact information?
Correct
Finra Rule – 4517 ‘Member Filing and Contact Information Requirements’
Each member shall be required to file with FINRA, or otherwise submit to FINRA, in such electronic format as FINRA may require, all regulatory notices or other documents required to be filed or otherwise submitted to FINRA, as specified by FINRA.Incorrect
Finra Rule – 4517 ‘Member Filing and Contact Information Requirements’
Each member shall be required to file with FINRA, or otherwise submit to FINRA, in such electronic format as FINRA may require, all regulatory notices or other documents required to be filed or otherwise submitted to FINRA, as specified by FINRA. -
Question 26 of 30
26. Question
In accordance with the provisions related to Finra Rule – 4517 ‘Member Filing and Contact Information Requirements’, Within how much time each member shall review and, if necessary, update its required contact information?
Correct
Finra Rule – 4517 ‘Member Filing and Contact Information Requirements’
Each member must identify, review and, if necessary, update its executive representative designation and contact information as required by Article IV, Section 3 of the FINRA By-Laws in the manner prescribed by this Rule.Incorrect
Finra Rule – 4517 ‘Member Filing and Contact Information Requirements’
Each member must identify, review and, if necessary, update its executive representative designation and contact information as required by Article IV, Section 3 of the FINRA By-Laws in the manner prescribed by this Rule. -
Question 27 of 30
27. Question
In accordance with the provisions related to Finra Rule – 4517 ‘Member Filing and Contact Information Requirements’, Within how much time each member shall comply with any FINRA request for the required contact information?
Correct
Finra Rule – 4517 ‘Member Filing and Contact Information Requirements’
Each member shall report and update to FINRA all contact information required by FINRA via the Firm Gateway or such other means as FINRA may specify.Incorrect
Finra Rule – 4517 ‘Member Filing and Contact Information Requirements’
Each member shall report and update to FINRA all contact information required by FINRA via the Firm Gateway or such other means as FINRA may specify. -
Question 28 of 30
28. Question
In accordance with the provisions related to ‘Designation of Custodian’ of Finra Rule – 4570 ‘Custodian of Books and Records’, A member that files a Form BDW shall designate a person, on the Form BDW, as the custodian of the member’s books and records. Which one of the undermentioned requirement should be fulfilled by such a person?
Correct
Finra Rule – 4570 ‘Custodian of Books and Records’
Designation of Custodian:
A member that files a Form BDW shall designate on the Form BDW, as the custodian of the member’s books and records: (i) a person associated with the member at the time that the Form BDW is filed; or (ii) another FINRA member.Incorrect
Finra Rule – 4570 ‘Custodian of Books and Records’
Designation of Custodian:
A member that files a Form BDW shall designate on the Form BDW, as the custodian of the member’s books and records: (i) a person associated with the member at the time that the Form BDW is filed; or (ii) another FINRA member. -
Question 29 of 30
29. Question
In accordance with the provisions related to ‘Consent Requirement’ of Finra Rule – 4570 ‘Custodian of Books and Records’, At what time a member that is filing a Form BDW shall obtain from the person designated on the form as custodian of the member’s books and records the person’s affirmative consent to act in such a capacity?
Correct
Finra Rule – 4570 ‘Custodian of Books and Records’
Consent Requirement:
A member that is filing a Form BDW shall, before the submission of the form, obtain from the person designated on the form as custodian of the member’s books and records the person’s affirmative consent to act in such a capacity.Incorrect
Finra Rule – 4570 ‘Custodian of Books and Records’
Consent Requirement:
A member that is filing a Form BDW shall, before the submission of the form, obtain from the person designated on the form as custodian of the member’s books and records the person’s affirmative consent to act in such a capacity. -
Question 30 of 30
30. Question
In accordance with the provisions related to ‘Consent Requirement’ of Finra Rule – 4570 ‘Custodian of Books and Records’, Prior to obtaining a custodian’s consent, Who shall inform the custodian of its obligations under the Exchange Act and FINRA Rules, including this Rule?
Correct
Finra Rule – 4570 ‘Custodian of Books and Records’
Consent Requirement:
Prior to obtaining a custodian’s consent, such member shall inform the custodian of its obligations under the Exchange Act and FINRA Rules, including this Rule.Incorrect
Finra Rule – 4570 ‘Custodian of Books and Records’
Consent Requirement:
Prior to obtaining a custodian’s consent, such member shall inform the custodian of its obligations under the Exchange Act and FINRA Rules, including this Rule.