Question

How frequently and within how many days of the end of the time period specified must access persons report their personal securities transactions?

a. Monthly, no later than 10 days after the end of each month.
b. Annually, no later than 60 days after the end of each calendar year.
c. Bi-monthly, no later than 15 days after the end of each two-month period.
d. Quarterly, no later than 30 days after the end of each calendar year.

Answer 1

Access persons are required to report their personal securities transactions quarterly, and must submit these reports no later than 30 days after the end of each calendar quarter. Hence, option (d) is correct.

Step-by-step explanation:

The question is asking about the frequency and deadlines for access persons to report their personal securities transactions according to the rules applicable typically in investment or securities firms. Access persons are individuals who have access to nonpublic information regarding clients' purchases or sales of securities, or who are involved in making decisions on behalf of the firm's securities transactions.

The correct answer to the question is: Access persons must report their personal securities transactions quarterly, no later than 30 days after the end of the calendar quarter. This means that reports should be filed four times a year, and each report should be submitted within 30 days following the end of each quarter (March 31, June 30, September 30, and December 31).