Books, Records, Privacy and Communications: Rapid Fire
Chapters in this video
- 0:00 The 6-5-4-3 retention countdown hack
- 1:23 Six years: blotters, ledgers, and the FINRA default
- 2:17 Suspicions at five, complaints at four: the standalone trap
- 2:47 Confirmation timing: settlement date, not trade date
- 3:56 Communications threshold: the cumulative 25-investor rule
- 5:18 Regulation Best Interest versus FINRA suitability
- 6:32 Regulation S-P: opt-out, not opt-in
- 7:20 Telemarketing time zones and do-not-call rules
- 7:31 The SIPC suitcase: $500K total, $250K cash pocket
- 8:27 Rapid-fire exam recap
What this video covers
- The 6-5-4-3 retention countdown: which records get 6 years, 5 years, 4 years, and 3 years, and why complaints at 4 years are a standalone trap
- The 2-year easily-accessible rule nested inside every longer retention period, not beside it
- When trade confirmations must be sent (settlement date, not trade date) and what they must disclose about firm capacity and solicited versus unsolicited trades
- Why the 25-retail-investor threshold in 30 calendar days is cumulative, and the difference between retail communications (principal pre-approval required) and correspondence (routine supervision)
- The four obligations of Regulation Best Interest (Reg BI) and how it raises the bar above FINRA suitability, plus when suitability and Reg BI do not apply
- Regulation S-P's opt-out framework for nonpublic personal information (NPI), why it never expires, and what account numbers can never be shared for marketing
- SIPC coverage limits: $500,000 per customer total with a $250,000 cash sublimit, and what firm failure covers versus what it excludes
Read the full lesson, free
This video's complete written lesson is free to read in the CertFuel app, no signup wall. The complete SIE course in the app is free too, including adaptive practice questions and spaced-repetition flashcards.