SIE (Securities Industry Essentials) Practice Exam

Question: 1 / 400

Which of the following actions is required of a broker-dealer's anti-money laundering (AML) program?

Designating an AML compliance officer

Designating an AML compliance officer is necessary for a broker-dealer's AML program because this individual will oversee and ensure compliance with AML regulations and laws. Conducting independent audits bi-monthly and reporting transactions over $1,000 are both important parts of an AML program, but they are not the only required actions. Guaranteeing the identity of foreign investors is also important, but it is not specifically required for a broker-dealer's AML program. Therefore, A is the best choice as it directly relates to the required action for an AML program.

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Conducting independent audits bi-monthly

Guaranteeing the identity of foreign investors

Reporting all transactions over $1,000

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