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Oh Division Of Re Rules Disciplinary ProcessBrokerage_operations_ohEASY

An Ohio broker must ensure that the brokerage's trust account is maintained at:

Correct Answer

C) An FDIC-insured financial institution in Ohio

Ohio requires that trust accounts be maintained at FDIC-insured (or equivalent) financial institutions within Ohio. This ensures that client funds are protected by deposit insurance and are accessible for Division inspection.

Answer Options
A
Any bank in the United States, including out-of-state banks
B
A credit union that is not FDIC insured, as long as it is in Ohio
C
An FDIC-insured financial institution in Ohio
D
An offshore bank for maximum privacy

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Related Topics & Key Terms

Key Terms:

trust_accountFDIC_insuredOhio_bankfinancial_institution
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