Compliance Checklist™ is based on the "Interagency Statement on Retail Sales of Nondeposit Investment Products" issued jointly by the Federal Reserve, FDIC, OCC, and OTS. It also includes the compliance mandates issued in their subsequent examination guidelines and procedures.
The MWA Compliance Checklist™ offers a systematic way to evaluate and affirm the compliance-adequacy of all policies and procedures that govern nondeposit investment sales programs. With it, bankers can assess the effectiveness of their programs’ consumer protection features and ensure that implementation and audit are done according to federal
The MWA Compliance Checklist™ covers all areas where federal regulators demand specific action, including the more neglected duties of the bank’s board
of directors, supervision of personnel and selling employees, permissible uses of bank customer information, customer suitability, compliance and audit programs, and oversight of third-party vendors. The checklist does not include individual state laws, regulations, rules, requirements or guidelines.
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