Question

For what minimum period of time after the closing of any customer's account must a broker/dealer preserve account cards or records which related to the terms and conditions with respect to the opening and maintenance of the account under FINRA Rules?

Answer 1

Answer:

The answer options are:

A. 90 days

B. 1 year

C. 4 years

D. 6 years

Explanation:

FINRA Rules prescribe that broker/dealers preserve for a period of not less than 6 years after the closing of any customer's account, any account cards or records which related to the terms and conditions with respect to the opening and maintenance of the account.