For what minimum period of time after the closing of any customer's account must a broker/dealer preserve account cards or records which related to the terms and conditions with respect to the opening and maintenance of the account under FINRA Rules?

Question

Business

Caiden Keller

17 May, 08:06

For what minimum period of time after the closing of any customer's account must a broker/dealer preserve account cards or records which related to the terms and conditions with respect to the opening and maintenance of the account under FINRA Rules?

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Answers (1)

Know the Answer?

Will Burton · Answer 1

The answer options are:

A. 90 days

B. 1 year

C. 4 years

D. 6 years

Explanation:

FINRA Rules prescribe that broker/dealers preserve for a period of not less than 6 years after the closing of any customer's account, any account cards or records which related to the terms and conditions with respect to the opening and maintenance of the account.