Series 24 Exam Question

Here is a great series 24 exam question regarding electronic communications between departments at FINRA member firms.

Regarding electronic communications between a firm's research department and non-research departments all of the following are true except:

A) Pre- approval of FINRA is required
B) Pre-approval by the principal is required for certain public communications
C) Copies of the electronic communications must sent to the firm's legal department
D) Copies of the electronic communications must be sent to the firm's compliance department

A) Both the NYSE and FINRA rules require that electronic communications between the research and non-research departments be copied to the firm's legal and compliance departments. Additionally, the principal is required to pre-approve all sales literature (eg: a research report). FINRA does not approve internal communications, advertising or sales literature.



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