Series 99: Exercise

Exercise

Answer the following questions.

1. 1. To protect the privacy of consumers’ financial information, the SEC adopted a regulation that places notice requirements and restriction on a financial institution’s ability to disclose nonpublic personal information about consumers. This regulation is known as:
2. A. Regulation T
3. B. Regulation S
4. C. Regulation S-P
5. D. Regulation M
6. 2. When may a broker-dealer or investment adviser disclose customer information to third parties?
7. A. After providing customers with its privacy policies initially and annually
8. B. After disclosing to the customer the opportunity and procedure for opting out of such information-sharing
9. C. After the customer does not opt out of such disclosures
10. D. All of these choices
11. 3. How may customers of broker-dealers and investment advisers ensure that their personal information will not be shared with non-affiliated third parties?
12. A. By opting out
13. B. By opting in
14. C. By signing off
15. D. By doing nothing
16. 4. Mike is a NOBO of several hundred shares of stock of ABC Corporation. A FINRA member firm is acting as the transfer agent and therefore sees Mike’s contact information. The issuer requests Mike’s information so that it can send him proxy mailings or other shareholder communications directly. Can the FINRA member share this information?
17. A. Yes
18. B. Not enough information provided
19. C. No
20. D. Only if the issuer contacts Mike beforehand to get his written permission

Answers

1. 1. C. Regulation S-P prot