(also drawee bank) the bank that pays the amount of money that is written on a cheque or bank draft by the owner of an account at that bank: A drawee is responsible for knowing his drawer’s signature and cannot …
Leia maisCategory: Financial Regulation
How does government regulation impact consumers and producers?
What are the effects of government regulation? According to critics, government regulations slow disruptive innovations and fail to adapt to changes in society. Others argue that there are good reasons for regulation. In pursuit of profit, businesses have damaged the …
Leia maisWhat does BSA in banking stand for?
What is a BSA mean in a bank? The Bank Secrecy Act The Currency and Foreign Transactions Reporting Act of 1970—which legislative framework is commonly referred to as the “Bank Secrecy Act” (BSA)—requires U.S. financial institutions to assist U.S. government …
Leia maisWhat is G 10 handle material?
G-10 is woven fiberglass soaked in an epoxy resin and then compressed and baked. It is very dense, lightweight, and impervious to water. Makes for a very tough and durable handle material. What is G-10 Grip? An extremely durable and …
Leia maisWhat role do independent agencies and regulatory commissions do for the bureaucracy?
Independent regulatory commissions are created to insulate the agency from congressional and presidential control through the appointment of commissioners who can’t be fired by the president. What does an independent regulatory commission do quizlet? What is an Independent Regulatory Commission? …
Leia maisHow does the bureaucracy carry out laws?
The federal bureaucracy makes regulations (the rules by which federal and state programs operate) through an administrative process known as rule making. Regulations can be challenged in court, and they are not put into effect until the legal issues are …
Leia maisIs Sarbanes Oxley effective?
Nearly two decades after its passage, SOX is recognized around the globe for its effectiveness in promoting trusted financial reporting and high levels of audit quality. How effective was the Sarbanes-Oxley Act? Indeed, it can be argued that the act …
Leia maisWhat is Regulation D of the Securities Act of 1933?
Regulation D under the Securities Act provides a number of exemptions from the registration requirements, allowing some companies to offer and sell their securities without having to register the offering with the SEC. What is Regulation D most known for? …
Leia maisWhat is red flag in AML?
AML red flags are common warning signs alerting firms and law enforcement to a suspicious transaction that may involve money laundering. What are red flag indicators? What Is a Red Flag? A red flag is a warning or indicator, suggesting …
Leia maisWhat is a Phase 1 exempt entity?
Phase I defines an exempt entity as a bank, credit union, any government entity, and any publicly traded company listed on a major stock exchange. Franchises, or those companies not actually owned by the publicly traded company, are not exempt …
Leia maisWhat are 15c3 deposits?
Rule 15c3-3(j) governs the treatment of customer funds held as free credit balances in customer securities accounts, including when such funds are automatically deposited, or “swept,” into bank deposit accounts through a broker-dealer’s sweep program (“Sweep Program”). What is 15c3 …
Leia maisDoes Rule 144 apply to private sales?
Rule 144 does not apply to private transactions, including sales, gifts, estate distributions and pledges, but does apply to the purchaser, donee, beneficiary and pledgee, when they sell the stock into the public market. Who can sell under Rule 144? …
Leia maisWhen was the NCTC created?
Who created the NCTC? President George W. Bush History. The precursor organization of NCTC, the Terrorist Threat Integration Center (TTIC), was established on May 1, 2003, by President George W. Bush by Executive Order 13354. President Bush announced the creation …
Leia maisWhat did the Dodd Frank Act do quizlet?
To protect consumers from abusive financial services practices. What was the primary purpose of the Dodd Frank Act? The most far reaching Wall Street reform in history, Dodd-Frank will prevent the excessive risk-taking that led to the financial crisis. The …
Leia maisWho has to file Form PF?
Only one private fund adviser should complete and file Form PF for each private fund. If the adviser that filed Form ADV Section 7. B. 1 with respect to any private fund is required to file Form PF, the same …
Leia maisWhat is Personal Property Securities Act 2009?
The Personal Property Securities Act 2009 (PPS Act) established a single, national, online Personal Property Securities Register (PPS Register). The PPS Register allows lenders and businesses to register their security interests over personal property. What is meant by PPSA? PPSA …
Leia maisWhat is a Sox system?
The passing of the Sarbanes-Oxley Act (SOX) in 2002 established rules to protect the public from fraudulent or predatory practices by corporations and other business entities. The act increased transparency in financial reporting by corporations, and established a system of …
Leia maisWhat is an example of NPI?
NPI may include names, addresses, phone numbers, social security numbers, bank and credit card account numbers, credit or debit card purchases, court records from a consumer report, or any other consumer financial information that: a consumer provides to a financial …
Leia maisHow is risk based capital calculated for insurance companies?
The RBC requirement is a statutory minimum level of capital that is based on two factors: 1) an insurance company’s size; and 2) the inherent riskiness of its financial assets and operations. That is, the company must hold capital in …
Leia maisWhat are unregistered shares?
Unregistered shares are any form of company stock that does not have an effective registration statement on file with the SEC. What are examples of unregistered securities? Examples include: large capitalization public companies offering investment grade securities to institutional investors …
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