Customer confirmations, statements, account records, and recordkeeping
Free FINRA Series 6 (Investment Company and Variable Contracts Products Representative) lesson in Provides Customers with Information About Investments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records. 18 min read, ~2,625 words.
Trade confirmations (FINRA 2232, SEC 10b-10) go to the customer at or before completion of the transaction, normally settlement. Account statements (FINRA 2231) go at least quarterly if there is activity or a position; many firms send monthly. Books-and-records retention runs 3 years, 6 years, or lifetime-of-firm depending on the...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Check Your Understanding
- Exam Shortcuts
Learning objectives
- C10
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