General Securities Sales Supervisor (Series10) Practice Exam

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If securities are suspected to be stolen, how soon must a report be filed with the Securities Information Center?

  1. One business day of discovery

  2. Two business days of discovery

  3. Three business days of discovery

  4. Four business days of discovery

The correct answer is: One business day of discovery

The requirement to file a report with the Securities Information Center when securities are suspected to be stolen is set to promote prompt action in safeguarding investors and the integrity of the securities markets. A report must be filed within one business day of discovering the suspected theft. This swift reporting is crucial because it allows authorities to act quickly to potentially recover stolen assets and protect other investors from fraudulent activity. The one-business-day timeframe highlights the urgency of addressing potential theft, ensuring that the incident is recorded and can be investigated without delay.

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