SIE Overview of the Regulatory Framework Question 20: Answer and Explanation

Question: 20

Which of the following is NOT mentioned in FINRA Rule 8310 Sanctions for Violation of the Rules?

• A. FINRA rules
• B. Direction based upon the FINRA rules
• C. Rules of the Municipal Securities Rulemaking Board
• D. Internal Revenue Code

Correct Answer: D

Explanation:

D: Choice D is correct because FINRA Rule 8310 does not mention FINRA imposing penalties for violating the Internal Revenue Code. Choices A, B, and C are incorrect because FINRA Rule 8310 mentions FINRA may impose penalties for violations of all of these.