In which of the following situations is the bank NOT required to report lost or stolen securities?
Click on the arrows to vote for the correct answer
A. B. C. D.C
The bank is required to report lost or stolen securities in most situations to regulatory authorities and law enforcement agencies. However, there are certain situations where reporting may not be required.
Option A states that bonds were expected to be delivered in person from the local Federal Reserve Bank and were not received. In this situation, the bank should report the lost or stolen securities to the Federal Reserve Bank and regulatory authorities.
Option B states that stock traded on the over-the-counter exchange (OTC) was expected to be received through the mail from a customer's broker. In this situation, the bank should report the lost or stolen securities to the regulatory authorities.
Option C states that securities with no CUSIP numbers were expected from another financial institution. While securities without CUSIP numbers may not be registered with the SEC, the bank should still report the lost or stolen securities to the regulatory authorities.
Option D states that stock traded on the New York Stock Exchange (NYSE) was expected to be delivered by the issuer's agent. In this situation, the bank should report the lost or stolen securities to the regulatory authorities.
Therefore, the correct answer to the question is that the bank is required to report lost or stolen securities in all of the situations presented in the options. Reporting lost or stolen securities is necessary to prevent fraud, protect the bank's reputation, and comply with regulatory requirements.