Sec
How often must broker-dealers provide privacy notices to customers under Regulation S-P?
Privacy notices = initially at account opening AND annually thereafter.
Complete Analysis & Legal Rationale
Regulation S-P requires broker-dealers to provide an annual privacy notice to customers, informing them of the firm's privacy policies and their right to opt out of information sharing with nonaffiliated third parties.
Distractor Autopsy (Why Other Options Are Traps)
FINRA exam writers design incorrect distractors using specific calculation mistakes and regulatory misconceptions. Review why each option succeeds or fails:
Monthly would be excessive; annual notices are required.
Quarterly notices are not required under Reg S-P.
Matches the verified teaching point in the explanation.
While an initial notice is required, annual notices must also be provided.
Official Standard: Outline-level citation pending rule-specific upgrade. Verify against current FINRA Series 7 outline.