SIE practice questioneasyOFAC reporting
If a broker-dealer identifies a customer as a match to an OFAC list, what action must they take?
- AFile a Form 8-K
- BNotify OFAC immediately✓ Correct answer
- CFile a 10-K report
- DSend an annual privacy notice
Explanation
Why B — Notify OFAC immediately
OFAC matches require immediate notification to OFAC and freezing of the account.
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