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What FINRA Rule covers suitability of sales of variable annuities?
FINRA Rule 2330 covers the suitability of sales of variable annuities. This rule requires that broker-dealers and their registered representatives ensure that the purchase or exchange of a variable annuity is suitable for the customer based on their investment profile, including factors like financial situation, risk tolerance, and investment objectives. The rule emphasizes the need for thorough disclosure and understanding of the product's features and associated costs.
What are the two securities regulation organizations?
The two primary securities regulation organizations in the United States are the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). The SEC is a federal agency responsible for enforcing securities laws, protecting investors, and maintaining fair and efficient markets. In contrast, FINRA is a self-regulatory organization that oversees brokerage firms and their registered representatives, ensuring compliance with industry rules and regulations. Together, they play crucial roles in the oversight and regulation of the securities industry.
Who can I speak to regarding top mutual fund picks?
You can speak to a registered securities representative that is licensed by FINRA about mutual funds. You can also go to an independent broker for advice on mutual funds.
What license must a agent obtain to sell variable life insurance policies?
The agent needs a life insurance license. He also needs to be registered with FINRA. The insurance license is issued by the state insurance regulator. He will need to take a life insurance class that is typically a one-week class and take an exam. To be registered with FINRA, he will need to either self-study or take a class and take state securities exams and general securities exams.
Where can one find information on Series 63?
Series 63 is an exam administered by Financial Regulatory Authority or FINRA. Completion of this exam entitles an individual with qualifications necessary to become a registered representative who solicite orders for corporate debt and equity securities such as bonds, preferred stock and more. Official exam and information can be found at FINRA website.
How are representatives elected?
By population
What r.o.s.f.p means?
From Regulatory Notice 08-28 - Effective June 23, 2008 the Financial Industry Regulatory Authority ("FINRA") amended its rules to allow a member firm to integrate the responsibility for supervision and compliance of its public customer options business into its overall supervisory and compliance program. As part of these changes, FINRA eliminated the requirement that a firm must designate a specific officer or general partner to serve as the Senior Registered Options Principal (SROP), and a specific individual (who may also be the SROP) to serve as the Compliance Registered Options Principal (CROP). The amendments provide member firms with the flexibility to allow several individuals to fulfill these supervisory functions, in accordance with the firm's overall supervisory structure. FINRA reminds firms of their obligation to designate appropriately registered principal(s) to supervise their public customer options activities pursuant to NASD Rule 3010(a)(2). FINRA Rule 1022 (Categories of Principal Registration) has been amended to delete the reference to the SROP and CROP and clarify that if a person is engaged in the supervision of a member firm's options and security futures business, including a person designated pursuant to NASD Rule 3010(a)(2), then such person must be registered as a Registered Options and Security Futures Principal (ROSFP).
How is the investment adviser registration depository iard related to finra?
FINRA developed and operates the IARD system based on the SEC and NASAA's requirements. The SEC and NASAA chose FINRA to administrate the IARD system due to its technical experience with regulatory depositories and databases.
Who elects people in the House of Representatives?
All registered voters in a district vote for the representative for that district.
How do you verify a series 7 license in NY?
A stockbroker's Series 7 license can be verified in New York by checking with FINRA. FINRA is the Financial Industry Regulatory Authority.Ê
Where can I find the corporate bond prices?
Corporate bond prices can be found through FINRA. FINRA is the Financial Industry Regulatory Authority, an independent regulatory authority for these type of products.
Who do registered voters directly elect?
Voters directly elect members of the Senate and members of the House of Representatives
