SIE practice questionmediumMSRB Rules - Enforcement
If a municipal securities dealer violates an MSRB rule, who has enforcement authority?
- AFederal Reserve
- BSEC directly
- CFINRA or appropriate bank regulator✓ Correct answer
- DThe MSRB itself
Explanation
Why C — FINRA or appropriate bank regulator
MSRB writes the rules but cannot enforce them. FINRA enforces for broker-dealers, bank regulators for banks. SEC oversees, but enforcement goes through SROs or bank regulators. MSRB does not enforce directly.
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