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You have just become a licensed registered representative with Fine, Howard, Fine and Associates, a broker-dealer. (Congratulations!) You have had a brokerage account with Anon Brokerage for the past ten years. In this instance, you are required to:
Suggested Answer: D
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If you have an account with another member firm upon becoming associated with a member firm, you are required to provide both the firm with which you have your account and your new employer in writing of the fact.
26 comments · newest first
PA
Pansy
11 months ago
Yup, closing the old account is a must!
LA
Lawrence
11 months ago
Wait, both B and C are required? That seems excessive.
MI
Mira
12 months ago
I thought you only had to notify Fine, Howard, Fine?
AV
Avery
12 months ago
Definitely need to notify Anon Brokerage too.
OD
Odelia
1 year ago
Gotta transfer assets to Fine, Howard, Fine.
TA
Tayna
1 year ago
I vaguely recall that both B and C could be required, but I’m not entirely confident. It seems like a tricky situation!
AL
Alayna
1 year ago
I’m a bit confused about whether I need to notify Anon or just Fine, Howard, Fine. I feel like both notifications might be necessary.
SE
Serina
1 year ago
I think I practiced a question like this where you had to transfer assets and notify the new firm. It feels like A is definitely part of it.
MA
Marshall
1 year ago
I remember something about notifying both firms when you change your affiliation, but I'm not sure if it's just one or both.
VA
Vallie
1 year ago
This seems pretty straightforward to me. The answer is clearly D - I need to provide written notification to both Anon Brokerage and Fine, Howard, Fine about the change. I'm confident that's the right approach.
LY
Lynette
1 year ago
Okay, let me break this down step-by-step. As a licensed representative, I need to transfer my assets to the new firm and close the old account. But I also need to provide written notification to someone - not sure if it's just the new firm or both. I'll review the options closely.
LA
Laurel
1 year ago
I'm a little unsure about this one. Do I need to notify both Anon Brokerage and Fine, Howard, Fine about the change? Or is it just one or the other? I'll have to think this through carefully.
FA
Fatima
1 year ago
Hmm, this seems straightforward. I think the correct answer is A - I need to transfer the assets from my Anon Brokerage account to my new Fine, Howard, Fine account and close the Anon account.
NA
Nakita
1 year ago
Hmm, I'm a little torn on this one. I think the key is figuring out if I need to notify one firm or both. I'll re-read the question carefully and try to eliminate the options that don't seem quite right.
CA
Catrice
2 years ago
I agree with Myra, it's important to follow all the requirements to ensure compliance.
CA
Carmelina
2 years ago
Haha, I can just imagine the paperwork pile up. D seems like the way to go, though. Gotta dot those i's and cross those t's.
MI
Mirta
2 years ago
Cassie: Better safe than sorry, right?
HE
Henriette
2 years ago
Agreed, option D seems like the safest choice.
CA
Cassie
2 years ago
Definitely, but it's important to follow all the requirements.
GA
Gail
2 years ago
Yeah, the paperwork can be overwhelming.
MY
Myra
2 years ago
I believe providing written notification to both Fine, Howard, Fine and Anon is necessary.
SH
Shelton
2 years ago
I think I should transfer the assets to Fine, Howard, Fine and close my account with Anon.
SH
Sherly
2 years ago
Definitely D. We have to cover all our bases and let both parties know about the change. Gotta play by the rules, you know?
BE
Benton
2 years ago
I think option D is the correct answer. We need to notify both the new firm and the old firm of the change in our affiliation.
LU
Luisa
2 years ago
Yes, it's important to follow the proper procedures when switching broker-dealers.
VA
Vallie
2 years ago
I agree, we need to make sure both firms are aware of the change.