Under TREC rules, Broker Thompson operates a large brokerage with over 100 transactions per month. To manage the volume, Thompson delegates trust account management to an unlicensed office manager. Under TREC rules, is this delegation permissible?
Correct Answer
D) The broker may delegate day-to-day trust account tasks to qualified staff, but the broker retains ultimate responsibility and must actively oversee the account
Under TREC rules, a broker may delegate day-to-day trust account tasks (such as deposits and record-keeping) to qualified staff members. However, the broker retains ultimate responsibility for the trust account and must actively oversee and supervise the management of the account.
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