series 7 unit 18

form u4

Registration from for a securities agent or principal of a broker-dealer or an investment adviser representative.

DRPs

criminal disclosurefinancial civil judicialregulatory actioncustomer complaint/arbitration/termination

customer complaint procedures

must be in writingretained for a min of 4 years

when complaints are received

must be brought to attention of deisgnated personmeditation or oarbitration if cannot be solves

Code of Arbitration Procedure

The formal method of handling securities-related disputes or clearing controversies between members, public customers, clearing corporations, or clearing banks. Any claim, dispute or controversy between member firms or associated persons must be submitted to arbitration.a copy of predispute arbitration agreement must be supplied within 10 business days if requested

initiation of proceedings

statement must describe:detail of controversy$ being soughtcheck for filing feerespondent has 45 days to respond

mediation

A method of settling disputes outside of court by using the services of a neutral third party, called a mediator. The mediator acts as a communicating agent between the parties and suggests ways in which the parties can resolve their dispute.

nonpublic Arbitrators

worked in financial industry more than 5 years ago

public arbitrators

any persons who do not meet the definition of nonpublic arbitrator

Arbitration Thresholds

-for disputes involving $50,000 or less: 1 arbitrator -50,000 - 100,00: 1 arbitrator unless both parties agree to 3->100,000: 3 arbitrators unless both parties agree to one

awards

accrues interest if not paid within 30 days

Statute of Limitations

no claim is eligible for submission to arbitration if 6 years have elapsed from time of event

Code of Procedure

A section of FINRA rules. It describes the procedure to be used when dealing with violations or complaints related to the Conduct Rules

availability of manual to customers

current copy of FINRA manual must be available to customer upon request

Reporting Requirements

Any issuer of securities, as defined by the Securities Exchange Act of 1934, must keep its books and records in such a way that they accurately reflect the financial transactions of the issuer. The purpose behind the reporting requirements is to make it more difficult for firms to hide questionable payments to foreign government officials.

sactions

censurefinesuspension of membershipexpulsionbarring

appeals

to take a case to a higher court for a rehearing

clearly erroneous

Standard used by appellate courts when reviewing a trial court's findings of fact.