SIE practice questioneasyRegulation S-P
Under financial privacy regulations, customers have the right to:
- AView other customers' account information
- BDemand that the firm delete all records about them
- CAccess the firm's internal trading algorithms
- DOpt out of having their personal information shared with non-affiliated third parties✓ Correct answer
Explanation
Why D — Opt out of having their personal information shared with non-affiliated third parties
Under Regulation S-P, customers have the right to opt out of having their non-public personal information shared with non-affiliated third parties. Firms must provide a reasonable method for opting out. However, firms can share information with affiliates and in certain situations (such as to process transactions or comply with legal requirements) without the customer's permission. Customers cannot demand deletion of required records or access other customers' data.
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