Chapter 16
No Fooling Around: Rules and Regulations
In This Chapter
Meeting the self-regulatory organizations
Opening and handling customer accounts
Playing by the rules
Reviewing additional topics tested
First off, I’d like to apologize for having to include this chapter. Unfortunately, rules are a part of life and part of the Series 7. When you’re reading this, please remember that I didn’t make the rules — but I do my best to make them as easy to digest as possible. Rules have become increasingly important on the Series 7 exam, especially since the Patriot Act came into the picture.
In this chapter, I cover topics related to rules and regulations. First, I help you understand who the guardians of the market are and their roles in protecting customers and enforcing rules. I also place considerable emphasis on opening, closing, transferring, and handling customers’ accounts. And of course, I provide practice questions and the “For Further Review” section to guide you on your way.
The Market Watchdogs: Securities Regulatory Organizations
To keep the market running smoothly and to ...
