Question of the Week
A) Segregate client funds from their own funds
B) Prompt notice whenever funds or securities have been moved to a new location
C) Arrange for an annual unannounced audit from an independent accountant
A registrant is required to segregate client funds, send notice whenever funds have been moved and arrange for an annual audit at least annually. However, the registrant is required to send a quarterly account statement, not a monthly statement.