Generally, a Financial Institution Is Required to Ascertain If Securities

Generally, a financial institution is required to ascertain if securities certificates they have taken by pledge, transfer, or otherwise have been reported as missing, lost, counterfeit, or stolen. When is it NOT required to take such actions?

A) When the securities certificate is received directly from the issuer or issuing agent at issuance.
B) When the bank officer personally knows the individual pledging the certificate.
C) When the securities certificate received as part of a transaction has a face value of $20,000 or less.
D) When the securities certificate is received directly from an insured delivery service.