Customer Complaint Recordkeeping and Reporting

What this video covers

• What qualifies as a written customer complaint and why electronic messages (email, social-media direct message, portal message) are captured while oral complaints are not
• Where written customer complaints must be retained, how the indexed-record alternative works, and why the retention floor is 4 years under Financial Industry Regulatory Authority (FINRA) rules rather than the 3-year Securities Exchange Act of 1934 (SEA) floor
• The specific allegations (theft, misappropriation, forgery) that trigger a 30-day per-event report regardless of dollar amount
• The $15,000 representative settlement threshold versus the $25,000 firm settlement threshold, and why the settled or adjudicated amount controls, not the customer's original demand
• When the 30-day clock starts for internal conclusion reports and why self-discovered violations require the same prompt reporting as external complaints
• The scope and deadline of the quarterly statistical report: every written complaint, no matter how minor, due by the 15th day after the calendar quarter
• Why severe complaints require both the 30-day per-event report and inclusion in the quarterly roll-up, not an either/or choice