Which of the following, under the NASD Conduct Rules, would constitute a complaint?
I. An angry telephone call from a customer to a registered
representative’s (RR) supervising principal, complaining about
the RR’s attitude.
II. A letter, written by a client’s attorney, to the compliance
office of a broker-dealer, which alleges impropriety in the
handling of the client’s discretionary account.
III. A telephone call to a principal in a broker-dealer firm, from
a principal in another firm, alleging that one of the firm’s
RRs has been “stealing” customers.
IV. A hand-written note, sent to a RR, by a customer who is
unhappy with the recommendations and performance of the RR.
a) I, II, III, IV
b) II, IV
c) I, III
d) II, III, IV
The correct answer is b.
The NASD defines a “complaint” as adverse communications that are in writing. Choices I and III are matters that the appropriate principal would look into, but they are not technically complaints.
Learn more about the content of the series 63 exam and how candidates should prepare for the test. Find out about potential ...
Learn more about the Series 63 exam and the NASAA policy on refunds of exam fees. Find out how the exam waiting periods work, ...
Learn more about retaking the Series 63 exam and how the test is updated. Find out how these changes impact test takers and ...
Learn more about the NASAA Series 63 exam and the NASAA policy on retakes. Find out more about why waiting periods are in ...
A examination to ensure a candidate is qualified to become a ...
A person who prepares investigative reports on equity securities. ...
An exam required for individuals seeking to engage in off-exchange ...
One who provides financial advice or guidance to customers for ...
An exam offered by the Financial Industry Regulatory Authority ...
An exam given by the Financial Industry Regulatory Authority ...