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Zorluk: KolayAccount Statements, Privacy Protection, and Regulation S-P

A retail customer holds an inactive brokerage account with a registered firm, experiencing no trade executions, dividend payments, or cash transfers over a six-month period. Under FINRA rules, how often must the firm deliver an account statement to the customer?

  1. At least quarterlyCevap
  2. B
    Monthly, regardless of account activity
  3. C
    Annually, at the same time as the privacy notice disclosure
  4. D
    Semi-annually, at six-month intervals

Cevap

The firm must deliver account statements to the customer at least quarterly.
FINRA rules require registered broker-dealers to deliver customer account statements at least quarterly. If an account has activity during any given month (such as trades, interest, or dividends), a statement must be delivered for that specific month. For an inactive account with no activity, quarterly delivery is the baseline minimum.

Adım Adım Çözüm

1
Identify the regulatory requirement for customer account statement delivery frequency under FINRA rules.
Broker-dealers must send statements monthly if activity occurs in the account, and at least quarterly if no activity occurs.
Account activity dictates whether monthly delivery is triggered, while quarterly delivery serves as the baseline requirement.
2
Evaluate the customer's account status based on the scenario details.
The account had no trades, dividends, or cash transfers for six months (inactive).
Since there was no monthly activity, the firm is required to send statements at the minimum baseline frequency of quarterly.

Anahtar Kavram

Customer Account Statement Delivery Frequency
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Konular

Account Statements, Privacy Protection, and Regulation S-P