Series 63 practice questionmediumSupervision — Written Procedures
All of the following are required elements of an investment adviser's supervisory procedures under the USA EXCEPT:
- AAssigning supervisory responsibilities to specific individuals
- BWritten policies regarding record retention
- CProcedures for periodic compliance reviews
- DAnnual reporting of all client complaints to the Administrator✓ Correct answer
Explanation
Why D — Annual reporting of all client complaints to the Administrator
Annual reporting of all client complaints to the Administrator is not an explicit requirement under the USA. The other options are required components (USA §411(c)).
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