Records of Written Customer Complaints

What this video covers

• Why only written complaints trigger this recordkeeping duty, and why an oral phone rant does not activate the rule
• The exact definition of a customer complaint: any grievance about soliciting, executing, or handling securities or funds
• Who bears the legal duty (the member firm) versus where the file must be kept or made available (each office of supervisory jurisdiction, or OSJ)
• Why the OSJ is location, not responsible party, and how firms can satisfy the rule by making records promptly available
• The four-year retention period with no stated start date, and why "from receipt" and "from resolution" are both wrong answer choices
• How to separate the recordkeeping duty (maintaining the file afterward) from the supervisory correspondence-review duty (reading complaints as they arrive)
• Which details to verify on exam day before selecting an answer