Certified Regulatory Compliance Manager (CRCM) — Question 89

During a recent compliance examination, regulators cited the bank for violations of various marketing regulations. How should the compliance professional FIRST respond?

Answer options

• A. Contact the bank's marketing manager to discuss the finding
• B. Develop a policy requiring that all marketing materials be reviewed and approved by compliance before being published
• C. Set up a training class for the marketing department
• D. Review the marketing materials and applicable regulations to verify the finding.

Correct answer: D

Explanation

The correct answer is D because verifying the findings against the marketing materials and regulations is essential to understanding the scope of the violations. Before taking any further action, such as contacting the marketing manager or developing policies, it is vital to confirm the validity of the regulators' claims. Options A, B, and C are proactive measures but should only follow after confirming the accuracy of the violations.