Series 27: Customer Protection Rule

Taken from our Series 27 - Financial and Operations Principal Qualification Examination

Definition of the term Customer Protection Rule...

passed by the SEC in 1972 as a reaction to several broker-dealer firms liquidating and leaving their customers high and dry. The rule requires broker-dealers to (1) promptly obtain and maintain the physical possession or control of all fully paid and excess margin customer securities and (2) to segregate all customer cash and securities that a broker-dealer has not used to finance other customers' transactions from its own proprietary accounts.

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Last August 2020 I passed the Series 28 on the first try using your materials. I just wanted to drop in and let you know I passed the Series 27 exam today!! I am so happy today as I took the test in Jan of this year and missed it by 3 points. I switched up my focus and really zoned in the most heavily weighted chapters. This is by far the hardest exam I have taken. Thank you Solomon for your excellent study materials. I'll be back when I pass the next one ;)

Nikita Brown, BMI. Atlanta, GA

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