Series 24: 1.2.5.8. Form U5 And Termination Of Service

Taken from our Series 24 Online Guide

1.2.5.8. Form U5 and Termination of Service

Should a person registered with a member firm resign or get laid off or fired, the member firm must file a Form U5 with FINRA within 30 days of the termination date. The firm must also provide a copy to the former employee within the same time frame. FINRA will assess a late filing fee on member firms failing to meet that deadline.

If a registered person leaves a member firm and associates with another member firm, the employee must provide a copy of Form U5 to the new employer upon request. The Form U5 must be provided either within two business days, if the employee has obtained the form from the ex-employer, or within two business days after receiving Form U5 from his ex-employer.

Form U5 requires the employe

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Studying for the 24 was not easy. I felt Solomon's course materials and online portal prepared me well for passing the exam in the first try. The study material was NOT overwhelmingly thrown together and I found the study program to be manageable and focused. Got me through the study period of about 4-5 weeks. I would recommend Solomon over the other courses.

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