Investment Company and. Variable Contracts Products Principals (Series 26) Practice Exam

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What is the required timeframe for an associated person to obtain written consent from the employer member for an account opened prior to their association?

15 days
30 days
45 days
60 days

The correct answer is: 30 days

The required timeframe for an associated person to obtain written consent from their employer member for an account that was opened prior to their association is indeed 30 days. This regulation ensures that the employer member is aware of the accounts held by their associated persons and is able to oversee any potential conflicts of interest or activities that might violate the firm's policies or regulatory standards. By mandating this 30-day period, the intention is to provide a reasonable window for the associated person to make the necessary disclosures and secure the required consent without causing undue delay or stress. This timeframe reflects a balance between operational efficiency and the need for proper oversight in the securities industry.