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

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How many months can member firms hold mail for customers without any issues?

2 months
4 months
3 months
5 months

The correct answer is: 3 months

A member firm can hold mail for customers for up to three months without encountering issues related to regulatory compliance. This policy is in place to ensure that customers can receive their important financial documents and account statements in a timely manner. Holding mail for longer than this period could create complications, such as the risk of customers missing critical information or updates regarding their accounts, which could lead to regulatory scrutiny or customer dissatisfaction. After three months, firms are generally advised to encourage customers to either pick up their mail or update their addresses to prevent further complications. This approach balances the customer's need for privacy and security with the necessity of keeping them informed about their investments.