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#14092 - 03/26/02 06:16 PM investment services
prosperity Offline
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prosperity
Joined: Oct 2001
Posts: 82
Houston, TX
If we were to begin offering investment services through a third party, what type of compliance related issues (directly or indirectly) should we be concerned with? We all have to comply with something right?
I was asked about the reps access to bank's network, having keys to bank office, etc.

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#14093 - 04/02/02 09:30 PM Re: investment services
prosperity Offline
Member
prosperity
Joined: Oct 2001
Posts: 82
Houston, TX
Might anyone offer any recommendations????

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#14094 - 04/02/02 10:15 PM Re: investment services
JMB Offline
Member
JMB
Joined: Mar 2002
Posts: 59
Michigan
For starters, you'll need to look at consumer protection for sales of insurance by depository institutions, privacy, and the Interagency Statement on Retail Sales of Nondeposit Products. A lot will depend on how the program is set-up.

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#14095 - 04/02/02 10:15 PM Re: investment services
Michelle D Offline
Gold Star
Michelle D
Joined: Oct 2001
Posts: 313
Terminator Country
I'd start with the Interagency Policy Statement on Non-deposit Investment Products. It's a must read before starting a program. It discusses Board responsiblities and other compliance responsibilities and the need to have a program.

I'd also look at your regulators exam procedures whether they are S&S or compliance they discuss what you need to be concerned with.
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