Question

When is the electronic filing of all information on customer complaints by broker-dealers with Financial Industry Regulatory Authority (FINRA) due?

1) Within 30 calendar days of receipt of the complaint
2) Semiannually, in June and December
3) Within 15 days of the end of each calendar quarter
4) Within 15 days of the end of each calendar year

Answer 1

Broker-dealers must file electronic reports on customer complaints with FINRA within 30 calendar days of receipt of the complaint, which is different from the FDA's reporting requirements for adverse drug experiences.

Step-by-step explanation:

The Financial Industry Regulatory Authority (FINRA) requires that broker-dealers electronically file information on customer complaints. This information must be filed within 30 calendar days of receipt of the complaint. While the question references LibreTexts in regards to the filing of adverse drug experience reports to the FDA, which includes 15-day reporting for serious and fatal events and quarterly for others, this process is distinct from the FINRA requirements. Broker-dealers must adhere to the FINRA guideline to ensure timely and accurate reporting of customer grievances.