Series 24: Answers

Answers

1. 1. Answer: A. Rationale: All of the above are possible sanctions. Moreover, FINRA can censure or impose a fine upon a member, but it cannot impose prison sentences.
2. 2. Answer: C. Rationale: Each respondent named in a complaint shall provide FINRA with a written reply within 25 days of receiving it. The reply must admit or deny the allegation or claim that the complaint contains insufficient information to make a plea.
3. 3. Answer: C. Rationale: Either a respondent or FINRA’s Department of Enforcement or Department of Market Regulation may file a written notice of appeal to the National Adjudicatory Council within 25 days after a decision has been issued.
4. 4. Answer: C. Rationale: Arbitratio