A registered representative was guilty of an undetected minor rule violation during the last year of employment at a broker-dealer firm. The representative has now decided to leave the industry. For how long might the representative still be subject to fines or other sanctions by Financial Industry Regulatory Authority (FINRA) if the violation is belatedly detected?

2 years

Explanation:

From the question, we are informed that a registered representative was guilty of an undetected minor rule violation during the last year of employment at a broker-dealer firm and that the representative has now decided to leave the industry.

The representative will still be subject to fines or other sanctions by Financial Industry Regulatory Authority (FINRA) if the violation is belatedly detected for two years.

It should be noted that the Financial Industry Regulatory Authority retains the jurisdiction over an individual that is registered for 2 years when the individual leaves the industry.

answer; buying the bill at a discount from the face value to be received at maturity;