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

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Carrying firms must file FOCUS II reports within how many days of the end of the reporting period?

10 days
17 days
20 days
30 days

The correct answer is: 17 days

Carrying firms are required to file their FOCUS II reports within 17 days of the end of the reporting period. This timeline is crucial as it ensures that firms maintain compliance with regulatory requirements set forth by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). The FOCUS II report is a critical financial document that provides regulators with insight into a firm’s financial condition, including its capital levels and liquidity. Timely filing is essential to maintain transparency and protect the integrity of financial markets. The specific 17-day requirement reflects a balanced approach, allowing firms adequate time to prepare the report while ensuring that regulators receive the necessary information in a timely manner to monitor the firm's financial health and mitigate potential risks in the financial system. This regulatory framework is part of the overall efforts to enhance investor protection and promote stability within the financial environment.