Investment Company and. Variable Contracts Products Principals (Series 26) Practice Exam

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For established firms, what is the filing requirement with FINRA for communications with the public?

  1. 15 business days after first use

  2. 5 business days after first use

  3. 10 business days after first use

  4. Immediate notification

The correct answer is: 10 business days after first use

The requirement for established firms regarding communications with the public is to file those communications with FINRA within 10 business days after their first use. This rule is designed to ensure that the content of communications adheres to regulatory standards and protects investors by ensuring that firms are held accountable for what they disseminate to the public. Compared to the other options, the specified timeframe of 10 business days strikes a balance between allowing firms sufficient time to prepare and distribute their communications while also ensuring that regulatory oversight is conducted promptly. It reflects the recognition that members of the public must receive accurate and fair information, and thereby supports the integrity of the financial markets. Other choices provide shorter or immediate filing timelines, which are not aligned with the established regulations set forth for experienced firms, as they may not be practical for the nature of communication efforts while still needing responsiveness for regulatory compliance.

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