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Finra Exam Series-6 Topic 9 Question 86 Discussion
Topic #: 9
The fees that member firms must pay to FINRA are based on:
i. the total market value of its assets.
ii. the number of registered representatives it employs.
iii. the number of branch offices it has.
Upon receiving a complaint about one of its member firms, FINRA may require any person associated with the member firm to provide information and to testify under oath; it may inspect and copy the books, records, and accounts of the member firm; and it may share information obtained from its investigation of a member firm with a foreign regulatory agency. The foreign regulator must agree to treat the information confidentiality, and the agreement with the foreign regulator is predicated on two requirements: ''(A) the other regulator party to the agreement must have jurisdiction over common regulatory matters; and (B) the agreement must require the other regulator to reciprocate and share with FINRA information of regulatory interest or concern to FINRA.''
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