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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?
Suggested Answer: D
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12 comments · newest first
JU
Justine
3 months ago
C is essential too. Knowing the rules helps avoid issues.
SH
Shawnda
3 months ago
I agree, but B is also important. Training is key for employees.
DE
Deeanna
3 months ago
I think D is the best choice. Understanding risks is crucial.
LI
Lindsay
3 months ago
Totally agree with you, Elenore! Risk assessment is key!
LI
Lino
3 months ago
Wait, are bank employees really qualified to sell those products?
AJ
Aja
4 months ago
I’d say getting the SEC rules is crucial too.
ER
Ernie
5 months ago
Definitely need to train the employees first!
EL
Elenore
5 months ago
I think the compliance risk is the biggest concern here.
HE
Helaine
6 months ago
I’m torn between establishing a training plan and determining compliance risks. I guess it depends on how much risk the bank is willing to take on initially.
VE
Vesta
6 months ago
I feel like understanding the regulations is crucial, which makes option C sound appealing. But I wonder if we should prioritize training first?
BR
Bronwyn
6 months ago
I remember a practice question that emphasized the importance of training employees before they start selling products. So, option B might be the best choice here.
AR
Armando
6 months ago
I think the first step should be to assess the compliance risks, so maybe option D? But I'm not entirely sure if that's the right starting point.