Which of the following is NOT a requirement when a bank pays an employee a fee for referring a high-net-worth or institutional customer to a broker?

Question

Quizplus · Accepted Answer

The requirement that the employee must be registered with the bank's regulatory agency is not necessary for the bank to pay a fee for referring a high-net-worth or institutional customer. However, the other three requirements (having a written agreement with the broker, giving a disclosure to the customer, and reasonably believing the customer is high net worth or institutional) are necessary per FINRA Rule 3240.

Which of the Following Is NOT a Requirement When a Bank