CCB Regulatory Reporting Requirements 2 — Questions and Answers
Question 1: Under SEC Rule 13F, institutional investment managers with what minimum discretionary AUM must file quarterly reports?
- $50 million
- $100 million (Correct answer)
- $500 million
- $1 billion
Correct answer: $100 million
SEC Rule 13F requires institutional investment managers with at least $100 million in discretionary AUM to file Form 13F quarterly.
Question 2: Which FinCEN form must banks file within 30 calendar days of detecting a suspicious transaction?
- Form 8300
- Suspicious Activity Report (SAR) (Correct answer)
- Currency Transaction Report (CTR)
- Foreign Bank Account Report (FBAR)
Correct answer: Suspicious Activity Report (SAR)
Banks must file a Suspicious Activity Report (SAR) with FinCEN within 30 calendar days of detecting suspicious activity.
Question 3: OSHA's recordkeeping rule (29 CFR 1904) requires employers with more than how many employees to maintain injury and illness logs?
- 5
- 10 (Correct answer)
- 25
- 50
Correct answer: 10
OSHA requires employers with more than 10 employees in non-exempt industries to maintain OSHA 300 injury and illness logs.
Question 4: When a public company's CEO or CFO certifies financial statements under SOX Section 302, what are they attesting to?
- That the company has no material weaknesses
- That internal controls were reviewed and the reports fairly present financials (Correct answer)
- That the audit committee approved all disclosures
- That no restatements occurred in the prior year
Correct answer: That internal controls were reviewed and the reports fairly present financials
SOX Section 302 requires CEO and CFO to certify they reviewed the report and that it fairly presents the financial condition and results of operations.
Question 5: Under EPA's Toxics Release Inventory (TRI) program, covered facilities must submit annual reports by what deadline?
- January 31
- March 1
- July 1 (Correct answer)
- October 31
Correct answer: July 1
TRI reporting forms (Form R or Form A) must be submitted to the EPA by July 1 each year covering the prior calendar year's releases.
Question 6: A company discovers a material cybersecurity incident. Under the SEC's 2023 cybersecurity rules, within how many business days must it file a Form 8-K disclosure?
- 2 business days
- 4 business days (Correct answer)
- 10 business days
- 30 business days
Correct answer: 4 business days
Under SEC's cybersecurity disclosure rules effective December 2023, public companies must file a Form 8-K within four business days of determining an incident is material.
Question 7: Which regulatory report requires U.S. persons with foreign financial accounts exceeding $10,000 to disclose those accounts annually?
- Form 5471
- FBAR (FinCEN Form 114) (Correct answer)
- Form 8938
- Schedule B
Correct answer: FBAR (FinCEN Form 114)
FinCEN Form 114 (FBAR) must be filed by U.S. persons with foreign financial accounts whose aggregate value exceeded $10,000 at any point during the calendar year.
CCB Regulatory Reporting Requirements 2
Under SEC Rule 13F, institutional investment managers with what minimum discretionary AUM must file quarterly reports?