Trust Fund Handling

Trust Fund Handling Questionnaire

1. Is the bank account used for trust fund handling in the name of the broker as trustee?

2. Is the bank account used for trust fund handling an interest-bearing account?

3. Are control records complete and accurate?

4. Are the separate transaction records complete and accurate?

5. Is monthly reconciliation of the control records and separate records performed and documented?

6. Are trust funds deposited in a timely manner?

7. Are authorized signatories either employed by the broker and licensed or unlicensed but bonded?

8. Are broker's funds commingled with trust funds?