Q: 13
The objective/s of trust department’s administration of corporate trust accounts include: I. Policies and producers ensure compliance with governing instruments, applicable law and accepted fiduciary principles II. Deficiencies are identified and corrective action is promptly initiated III.There is sufficient management and staff expertise to administer these accounts IV.Effective policies , procedures and internal controls have been established V.The legitimate needs of security holders and other interested parties are met in a professional and timely manner
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