CATIC/VATC agents have a fiduciary responsibility for the processing, safeguarding, and accounting of all funds held for the benefit of others. This responsibility requires management to monitor and perform all procedures necessary to ensure the proper disposition of all balances held. The fiduciary responsibility does not end with the disbursement of funds at closing, but also includes appropriate follow-up and review of reconciliations, file balances and unpaid items.
CATIC’s Compliance Department would like to remind our agents of the policies and internal controls that should be in place over fiduciary funds.