CFTEA

Medallion Programs and Signature Guarantees: An Overview of the Processes, Rules & Risks

$185.00

SKU: daca41214b39 Category:
Date/Time: Call to Schedule 9:00-Noon
Code: C5024L

Description

Signature guarantees are commonplace in financial transactions, but technical problems and financial losses associated with these often misunderstood processes are on the rise. Many bankers do not understand the basic responsibilities when guaranteeing a signature and affixing a Medallion instrument. These misunderstandings expose guarantor financial institutions to substantial liability and penalties, not to mention loss of customer trust. The Federal Deposit Insurance Corporation mandates all financial institutions issuing or accepting signature guarantees to establish
effective internal controls mitigating these technical problems and financial losses associated with these processes.

Would your financial institution pass the test? Do your employees know the differences between various signature guarantees supported and endorsed by the Securities Transfer Association?

This program will provide participants with essential fundamentals, including an introduction to the various types of medallion programs and an overview of the signature guarantee process. Participants will learn various situations in which each type of signature guarantee is required, including an analysis of the liabilities and risk management for a guarantor financial institution.

 

PROGRAM OBJECTIVES:
• Distinguish between the various signature guarantee programs
• Explain Section 8-306 of the Uniform Commercial Code
• Discuss Proper and Improper Uses of the Medallion Instrument
• Understand Surety Bonds
• Explore Medallion Signature Guarantee Best Practices; Know your Customer
• Review Best Control Practices; Safeguarding the Medallion Instrument
• Learn Proper Medallion Instrument Imprinting and Verification
• Contrast Signature Guarantee Processes with Notarial Acts
This independent seminar is not affiliated or sponsored by any medallion program.

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