A registered representative receives a written complaint regarding a purchase of G.O. bonds. The representative should:

• A. Send a copy of the complaint to the MSRB
• B. Send a copy of the complaint to the SEC
• C. Submit the complaint for arbitration
• D. Attempt to resolve the complaint with the approval of the municipal principal

Answer: (D)

When a municipal securities complaint is received in writing, oversight is essential. The representative should not attempt to resolve the issue alone or promise remedies without supervision. The firm’s process requires that the complaint be reviewed by the appropriate supervisor, in this case the municipal principal, and that any attempt to resolve or settle the matter be done with that principal’s approval. This ensures proper investigation, accurate handling, and compliance with MSRB procedures.

Sending the complaint directly to the MSRB or the SEC bypasses the firm’s internal review and is not the immediate step. Arbitration is not automatically triggered by receiving a complaint; it typically comes into play only if the parties agree to arbitrate or if the firm’s policy and applicable rules call for it after internal handling.