FINRA General Securities Representative SIE Question # 1 Topic 1 Discussion
SIE Exam Topic 1 Question 1 Discussion:
Question #: 1
Topic #: 1
A customer will be out of the country for the next two months on business and asks his firm to hold his mail until he returns. Which of the following statements is true regarding this request?
A.
The firm is prohibited from holding the customer's mail under FINRA rules due to the personal information contained.
B.
The firm must receive written instructions from the customer that include the time period for the requested mail hold.
C.
The firm is permitted to hold the mail as long as the registered representative (RR) complies with the customer's oral instructions.
D.
At the discretion of the RR, the firm is permitted to hold the customer's mail provided it takes reasonable actions to ensure no tampering occurs with this mail.
FINRA Rule 3150: Permits firms to hold customer mail only with written instructions specifying the duration, which cannot exceed three months unless there are exceptionalcircumstances.
Incorrect Options:
A: Holding mail is not prohibited if done in compliance with FINRA rules.
C & D: Oral instructions or RR discretion are not sufficient; written authorization is mandatory.
References:
FINRA Rule 3150 (Holding of Customer Mail): FINRA Rule 3150.
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