Question

How long do securities regulators retain jurisdiction over a person after a U5 form is filed?

1) 10 years
2) 5 years
3) 180 days
4) 2 years

Answer 1

After a U5 form is filed, securities regulators retain jurisdiction over a person for 2 years. The U5 form is used to terminate the registration of a person in the securities industry.

Step-by-step explanation:

The correct answer is 4) 2 years. After a U5 form is filed by a securities regulator, they typically retain jurisdiction over a person for a period of 2 years. The U5 form is a document used by the Financial Industry Regulatory Authority (FINRA) to terminate the registration of a person in the securities industry.

During these 2 years, the securities regulator can still take action against the person if they find any violations or misconduct. This is done to ensure that individuals in the securities industry are held accountable for their actions and to protect investors.

After the 2-year period, the jurisdiction over the person may end, but it's important to note that the securities regulator can still use the information from the U5 form for reference and future investigations.