SIE practice questionhardReporting bankruptcy filings
If a registered person files for personal bankruptcy, what is the reporting requirement?
- AReport to SIPC
- BNotify the SEC only
- CNo reporting is required
- DAmend Form U4 and notify FINRA within 30 days✓ Correct answer
Explanation
Why D — Amend Form U4 and notify FINRA within 30 days
All bankruptcy filings must be reported to FINRA via a Form U4 amendment within 30 days.
Turn it into reps
Reading one answer is not the same as being ready
Lucky the Banker is a free practice app with 1,867+ SIE questions, weak-area tracking, and timed mock exams. No credit card, no paywall.
Related Regulatory Framework questions
- A firm receives a regulatory fine of $10,000. What must be done?
- A criminal indictment of a registered individual must be reported to FINRA within how many days?
- How quickly must a major cybersecurity event be reported to FINRA?
- If a regulatory agency files a complaint against a firm, what is the correct reporting procedure?