A broker-dealer that is a member of both FINRA and the MSRB must follow whose rules?

1. AOnly FINRA's
2. BOnly MSRB's
3. CBoth FINRA's and MSRB's✓ Correct answer
4. DNeither

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• Why is SRO registration required for broker-dealers?
• Which statement is true about firms that are not SRO members?
• Which statement best compares FINRA and the MSRB?
• After exhausting the SRO's internal appeals, a firm can appeal disciplinary decisions to: