Regulatory FrameworkQuestion 366 of 398
A registered representative resigns from her broker-dealer to take a job in a different industry. Within how many days must the firm file a Form U5 to report her termination?
a.10 days
b.60 days
c.45 days
d.30 days
Explanation
A member firm must file Form U5 within 30 days of an associated person's termination. The firm must also provide a copy of the U5 to the individual. The U5 reports the reason for termination and any disclosures that arose.
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