SIE practice questionhardSRO Member Obligations
What is a key ongoing obligation of SRO member firms?
- ASubmit all customer account information to the SEC monthly
- BSelf-monitor compliance with SRO rules and report violations✓ Correct answer
- CHold annual elections for SRO directors
- DProvide legal services to the public
Explanation
Why B — Self-monitor compliance with SRO rules and report violations
SRO member firms must self-monitor compliance and report violations as part of self-regulation.
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- Which statement best compares FINRA and the MSRB?
- What is the final level of appeal for a member firm disciplined by an SRO?
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