Customer Complaints: The Records Rule
Chapters in this video
- 0:00 Why Cora's phone meltdown is not a formal complaint
- 1:21 Written formats that trigger the rule: text, email, DM
- 2:50 OSJ file retention: the four-year trap
- 3:34 Rep escalation path and the paired complaint-plus-action record
- 4:50 Settling around the firm: personal checks and career-ending violations
- 5:40 Downstream triggers: 30-day reporting and U4 amendments
- 6:51 Rapid-fire exam recap
What this video covers
- What qualifies as a formal complaint under the customer complaint records rule, and why oral grievances are excluded even when the substance is serious
- Which modern communication formats count as "written" for compliance purposes, including emails, text messages, faxes, and social-media direct messages
- How the Office of Supervisory Jurisdiction (OSJ) must maintain complaint files, including the two acceptable formats and the alternative-compliance option
- The mandatory escalation path for a rep who receives a written complaint, and what happens when a rep deviates from forwarding it to a principal
- Why settling around the firm by paying a customer out of pocket creates separate books and records and supervisory violations
- The four-year retention requirement for OSJ complaint records, and why this differs from the three-year order-ticket tier and six-year customer-account tier
- How the complaint file connects to downstream triggers: the 30-calendar-day firm event reporting rule for theft allegations and Form U4 amendments for $5,000-plus sales-practice damages
Read the full lesson, free
This video's complete written lesson is free to read in the CertFuel app, no signup wall. The complete Series 6 course also includes adaptive practice questions and spaced-repetition flashcards.