Trust Examiner School eBook

[Type Management Response Here]

12. Provide a copy of any communication with the Department of Labor, Securities and Exchange Commission, Internal Revenue Service or FINRA for the Trust Company, its subsidiaries or affiliates since the previous examination.

[Type Management Response Here]

13. A letter from Legal Counsel (internal or external) describing any threatened or pending litigation. Reference the accounts concerned, the nature of the action, the amount of potential liability, the present status, and a statement as to the probable outcome.

[Type Management Response Here]

14. A list of all third-party service providers used on a regular basis and a copy of the corresponding service agreements or contracts (e.g. investment advice, operational support, accounting systems, safekeeping of assets, pricing services, real estate management) including those with the holding company, affiliates or subsidiaries. If the service provider is an affiliate, include discussion of compliance with the transaction with the affiliate regulation.

[Type Management Response Here]

15. Describe your due diligence process for selecting a third-party service provider and the ongoing management oversight process for assessing the provider’s performance. Discuss monitoring the financial condition, operations, and internal control environment and evaluating the quality and level of service and support received.

[Type Management Response Here]

16. A copy of insurance policies (e.g. errors and omissions and directors’ and officers’ liability). Provide the date of the board’s last review and approval. Include coverage for real estate properties held in trust accounts.

[Type Management Response Here]

17. Provide both a short- and long-term view of your Management Succession Plan and the date the Board approved it.

[Type Management Response Here]

18. Please provide a certified listing of the institution’s shareholders and if applicable, holding company shareholders. Include in the list: