Depository account, Brokerage account and Insurance policies

Question 1

A covered member’s brokerage account at an attest client broker-dealer would not impair independence only if both of these apply…

Answer 1

1 Rendered under normal terms

2 Risk of loss is immaterial

Question 2

Insurance policies are impaired when…

Answer 2

1 Member has ability to select the policy’s underlying investments
2 Authority to supervise or participate in the investment decision