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Answer: Establish written protocols for reporting suspected violations of laws or regulations.
**Explanation:** - **Option A** is incorrect because the recommended procedures for compliance with Standard I (A), Knowledge of the Law, suggest distributing pertinent legal information to employees or making it available in a central location, not to clients. - **Option B** is correct. The recommended procedures for compliance with Standard I (A) include establishing written protocols for reporting suspected violations of laws, regulations, or company policies. This aligns with the requirement to ensure proper reporting mechanisms are in place. - **Option C** is incorrect. While seeking advice is recommended, the guidance should come from compliance personnel or legal counsel, not directly from a regulatory agency. The procedures emphasize internal consultation to address potential violations.
Author: LeetQuiz Editorial Team
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Which of the following is a recommended procedure for compliance with the Standard relating to knowledge of the law? Members should encourage their firms to:
A
Distribute summaries of relevant security laws to clients at least annually.
B
Establish written protocols for reporting suspected violations of laws or regulations.
C
Consult a regulatory agency for guidance on potential violations.
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