Has anyone developed or obtained an audit format providing an overview of the new Securities Transfer Agents Medallion Program, Inc. (STAMP) Internet certification program? Any ideas or suggestions for implementing a Medallion Signature Guarantee audit would be extemely appreciated.

Please PM me if you wish.

Thank you!

http://www.bankersonline.com/articles/bhv14n04/bhv14n04a13.html

looking at this article, an audit program would probably consist of answering questions such as:
1. Who are the bank's authorized signers? Are they appropriate?2. If they leave their positions, are their signing authorities terminated appropriately?
3. How are the stamps safeguarded?
4. Is the proper ink used?
5. What training is given to the staff to recognize the guaranteed signature? to participate in the guarantee program?

In addition to the things mentioned previously, you should also review the procedrues for retrieving and replacing out of date or damaged STAMPS. Also, the procedures for destroying the STAMPs are important.