Series 6 - Investment Company And Variable Contracts Products Representative Exam
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How may a member firm obtain relief from FINRA's recordkeeping rule?
Hiring additional staff from firms that were never disciplined
A
Terminating staff from disciplined firms
B
Filing a special report listing all staff from disciplined firms
C
There is no relief from FINRA's recordkeeping rule
D
Explanations
When a firm is notified by FINRA for the first time that it is subject to the recordkeeping rule, it has a one-time opportunity to obtain relief from the rule by adjusting its staffing levels by terminating representatives from disciplined firms.