A bank is considering canceling its agreement with a broker to which it currently leases space in its lobby. The new plan would include an agreement with a different broker, but bank employees would complete product sales. What should the compliance manager do FIRST?

Question

Quizplus · Accepted Answer

The compliance manager should first determine the additional compliance risk for the bank as a result of this change. This will help the manager assess the potential impact and identify any necessary changes or actions to mitigate the risk. Once the compliance risk has been assessed, the manager can then move on to establishing a licensing program or training plan for employees, or obtaining copies of relevant rules and regulations.

A Bank Is Considering Canceling Its Agreement with a Broker