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 what to focus on when studying for the Series 6 while reviewing important aspects of the exam, including its content ...
Read about some of the best and most popular test prep classes for the Series 6 FINRA securities licensing exam, including ...
Learn more about the Series 6, what the examination and license are and what the license enables an individual to buy, sell ...
Learn about the regulatory exams needed to become a limited or registered representative and the main differences between ...
A securities license entitling the holder to register as a limited ...
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 ...