I think I know the correct answer but need a little reassurance. We recently had a business customer with a MMA who wanted to receive their monthly accrued interest from the MMA in the form of an interest check instead of applying the accrued back to the account. Anyone see a compliance problem with this?

Hi Qtip. Haven't seen you hanging around BOL in awhile.

I don't know of any compliance issues with this situation. I think it's a little unusual, but don't see anything wrong with it.

I ran into this request once at a past position, and we determined that we were not going to cut an interest check on an account where the owner could write their own check.

Besides, would the interest check count toward their
reg. D requirements?

Oh....i've been soooo busy....I should have been triplets! I didn't think there was anything and this was an unusual request....only problem I can see is if our Core system would allow the programing! Thanks again.

That's a key issue. I don't think you need be concerned with the counting of the check, but I would not recommend setting up the capability for just one customer.