During an ongoing investigation into a client's activities by a competent authority, a compliance officer should

Question

Options

• AEnsure communication with regulatory and law enforcement authorities is conducted only through
• BCommunicate only in writing with regulatory and law enforcement authorities in line with
• CCommunicate with regulatory and law enforcement authorities in line with applicable local laws.
• DLimit communication with regulatory and law enforcement authorities to the absolute minimum.

• A
  3% (1)
• B
  5% (2)
• C
  83% (33)
• D
  10% (4)

Explanation

A compliance officer should communicate with regulatory and law enforcement authorities in line with applicable local laws during an ongoing investigation into a client's activities by a competent authority. This is because the compliance officer has a duty to cooperate with the authorities and provide relevant information and documents as requested, while also protecting the confidentiality and privacy of the client and the institution. The compliance officer should not restrict the communication to senior management only, as this could hinder the investigation or create a perception of obstruction. The compliance officer should not communicate only in writing, as this could limit the effectiveness and timeliness of the communication. The compliance officer should not limit the communication to the absolute minimum, as this could imply a lack of cooperation or

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