SEC, PCAOB, GAO, DOL Requirements A03-05b
SEC rules: – Loans will impair independence, except those under normal lending arrangements. Give example of loans which do not impair independence.
- Auto loans and leases collateralized by auto.
- Loans fully collateralized by CSV of policy.
- Loans fully collateralized by cash deposit.
- Mortgage loans collateralized by primary residence, and mortgage was obtained before becoming a covered member.
