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Finra Exam Series-6 Topic 9 Question 86 Discussion
Topic #: 9
Upon receiving a complaint about one of its member firms, FINRA may:
i. require any person associated with the member firm to provide information to FINRA and to testify under oath.
ii. inspect and copy the books, records and accounts of the member firm.
iii. share information obtained from its investigation of a member firm with a foreign regulatory agency.
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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