Series 7 practice questionmediumDigital Communications — Personal Devices
A representative uses a personal smartphone to send investment recommendations to clients via text. Which statement best describes the firm's obligation?
- AThe firm must ensure these communications are supervised and archived, regardless of device.✓ Correct answer
- BThe firm is not responsible for communications sent from personal devices.
- CThese communications are exempt from recordkeeping if sent after business hours.
- DThe firm only needs to supervise communications sent from firm-issued devices.
Explanation
Why A — The firm must ensure these communications are supervised and archived, regardless of device.
All business-related communications, regardless of the device used, are subject to firm supervision and recordkeeping requirements.
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