Series 14: 8.2.3.1. FINRA Suitability Obligations

Taken from our Series 14 Online Guide

8.2.3.1. FINRA Suitability Obligations

A broker-dealer must believe on reasonable grounds that its recommended transactions or strategies are suitable for an individual customer. FINRA recognizes three suitability obligations:

1. Reasonable-basis obligation. A broker-dealer and registered rep must understand the complexity and risks of a security or investment strategy and consciously determine whether it’s suitable for at least some investors. If a firm or its brokers and dealers do not understand the risks and mechanics of

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