Financial Institutions Protection of Funds Act

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Reference no: EM133635914

Question

Stan works for a company that administers trusts for beneficiaries. Which of the following will be legal in terms of the provisions of the Financial Institutions (Protection of Funds) Act? Stan wants to buy a house and the company uses some of the funds of various trusts to provide collateral for Stan's home loan. A trust deed determines that the funds must be invested on fixed deposit. Stan feels that is not a good investment and rather invests the funds in a balanced fund. The property administration agreement is awarded to a company in which Stan holds no shares. Stan is in charge of the title deed of trust properties. Several of the title deeds go missing.

Reference no: EM133635914

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