Final answer:
Firms are required to provide statistical and summary information about customer complaints to FINRA, which is a regulatory practice aimed at maintaining fair and ethical operations in financial markets.
Step-by-step explanation:
It is true that statistical and summary information about customer complaints must be provided to FINRA (Financial Industry Regulatory Authority). FINRA rules require that firms report certain complaints to the regulator. This information is vital for regulatory oversight and helps ensure that the financial markets are being operated fairly and ethically. Firms must submit quarterly statistical and summary information about customer complaints, including the number of complaints received, the types of complaints, and how they were resolved.