SIE - Securities Industry Essentials Exam
Preview Mode
Which of the following must a broker-dealer AML compliance program required to have?
Policies and procedures that be reasonably expected to detect and cause the reporting of suspicious transactions, Annual independent testing for compliance to be conducted by member personnel or by a qualified outside party, A compliance officer, A source of funds verification for all deposits
A
Policies and procedures that be reasonably expected to detect and cause the reporting of suspicious transactions, Annual independent testing for compliance to be conducted by member personnel or by a qualified outside party, A compliance officer
B
Annual independent testing for compliance to be conducted by member personnel or by a qualified outside party, A compliance officer, A source of funds verification for all deposits
C
Policies and procedures that be reasonably expected to detect and cause the reporting of suspicious transactions
D
Explanations
A source of funds verification for all deposits is not required. The other 3 are required elements of a firm's AML program.