Discuss Acams CAMS Exam Topic 3 Question 26

Acams CAMS Exam - Topic 3 Question 26 Discussion

Posted by Cyndy on May 07, 2022 at 11:04 PM

Which statement is true about banking regulatory agencies having the authority to obtain information from regulated institutions?

AThe regulatory agencies may only obtain information from the regulated institution's books and records by virtue of a search warrant

BA search warrant may be substituted by a court subpoena compelling the institution to produce the information to the regulatory agency

CThe agencies authority to conduct examinations negates the need for a warrant or subpoena

DIf a regulatory agency intends to prosecute a regulated institution, a warrant or subpoena must first be granted before the information can be obtained

Suggested Answer: C

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7 comments · newest first

Shaun 1 year ago

D is definitely not true. They can act without a subpoena.

Myra 1 year ago

B seems plausible too, but I lean towards C.

Noe 1 year ago

Wait, really? I thought they always needed a warrant.

Van 1 year ago

Totally agree with C! Makes sense for efficiency.

Trina 1 year ago

C is the correct answer. Agencies can examine without a warrant.

Irma 1 year ago

This one seems pretty straightforward. The question is asking about the properties of PAUSE frames, and the answer is clearly True.

Juan 1 year ago

This looks like a regulation and compliance question. I'm pretty sure the regulatory agencies have some inherent examination powers.

Thread summary

● Consensus

Community pick: Yes strong agreement

Vote breakdown

A 2%

B 1%

C 95%

D 2%

Summary updated from 7 comments · last activity 1 year ago

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