SIE practice questionhardReporting changes in AML officer
When a broker-dealer appoints a new AML compliance officer, what must they do?
- ANo action is needed
- BFile with the MSRB
- CInform the SEC by phone
- DReport the change to FINRA promptly✓ Correct answer
Explanation
Why D — Report the change to FINRA promptly
Firms must inform FINRA of any changes in AML officers promptly.
Turn it into reps
Reading one answer is not the same as being ready
Lucky the Banker is a free practice app with 1,867+ SIE questions, weak-area tracking, and timed mock exams. No credit card, no paywall.
Related Anti-Money Laundering & Reporting questions
- If a registered representative is subject to significant disciplinary action, when must customers be notified?
- When must a SAR be filed if no suspect can be identified?
- Which FINRA rule requires firms to report disciplinary actions against registered representatives?
- How frequently must an AML program be independently tested for compliance?