A client notifies their Registered Representative on a Tuesday that they have retired, which will significantly decrease their risk tolerance and time horizon. By when must a supervisor approve this material change?
8 attempts · 37.5% correct
No later than the end of business on WednesdayCorrect
By the end of the current week
By the end of business on Tuesday
Within 48 hours of the Registered Representative updating the electronic system
Why
Material changes must be approved by the designated supervisor within one business day after receiving notice of the change.
