Question
Jane Maine recently hired an intern to help her at the office, to basically process documents submitted by new clients who have signed up for
Jane Maine recently hired an intern to help her at the office, to basically process documents submitted by new clients who have signed up for her bank's services.The intern was just handed a recently processed account document and was not given any prior training or processing manual since she felt that being from a top university, the intern was "smart enough" to figure out how the documents should be processed.Due to the holiday season in December, Jane had decided to do a random sampling of the intern's work before the new client documents are being submitted to the account opening department.During other months, Jane herself or her full time assistant would check all new account documents as the submissions have to be signed off by a full time employee at the bank.At an audit after the financial year end, the bank regulator had found some incomplete and incorrect submissions which constituted a regulatory breach and the bank was penalised for these mistakes.
Jane had:
A. Violated the Code and Standards by not providing adequate supervision an important process when new clients were beings recruited.
B. Violated the Code and Standards by asking an intern to process a regulated activity.
C. Not violated the Code and Standards by asking the intern to process a regulated activity because a sample of the processed work was provided.
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