Question

Which statements are true regarding the sate administrators authoity to estabish recordkeeping rules for broker-dealers?

Answer 1

Answer:

The correct answer is letter "A": The Administrator can only establish recordkeeping rules that are the same as those set by the SEC.

Explanation:

The Securities and Exchange Commission or SEC is an independent agency of the United States government. The mission of the SEC is to enforce securities laws passed by Congress. These laws aim to promote fair, orderly and efficient securities markets, protect investors from abuses, and help maintain a well-functioning economy. In the case States' administrators want to establish recordkeeping rules for broker-dealers in their region, they must follow those already set by the SEC.