Customer Complaints

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Chapters in this video

  1. 0:00 Defining a customer complaint: verbal vs. written
  2. 0:52 Handling the complaint: notify supervisor first
  3. 2:47 Four-year retention and OSJ filing rules
  4. 3:50 FINRA reporting: quarterly vs. 30-day serious events
  5. 5:27 Sanctions, criminal liability, and record destruction
  6. 6:05 Rapid-fire exam recap

What this video covers

  • The legal definition of a customer complaint, including why both verbal and written grievances count but only written complaints trigger full recordkeeping rules
  • The mandatory first step when a rep receives a complaint, and why offering personal compensation or independent resolution is a violation
  • The four-year retention period for written complaints and the Office of Supervisory Jurisdiction (OSJ) filing requirement
  • The distinction between quarterly statistical summaries and 30-calendar-day reporting for complaints involving theft, misappropriation, or forgery
  • The $25,000 settlement threshold for Form U4 disclosure and why amounts below that stay internal
  • The additional Cboe forwarding requirement for options-related complaints
  • The full range of FINRA sanctions for improper complaint handling, including why destroying records can lead to criminal charges

Read the full lesson, free

This video's complete written lesson is free to read in the CertFuel app, no signup wall. When you're ready to drill the topic, the full Series 7 course adds adaptive practice questions and spaced-repetition flashcards.

Read the Free Lesson → free · no signup wall