Professionals who are employed by Deloitte are required to comply with our independence policies. These policies impact not only your own personal financial relationships, but also those of your spouse, spousal equivalent and dependents. Show
Newly hired professionals frequently need to take one or more of the following actions:
Below is only a partial list, but it represents common financial relationships and scenarios that are subject to reporting and/or ongoing monitoring and some may require divestiture to comply with independence policies if you are employed at Deloitte. If you have one or more of the financial relationships or situations described below and are unable or unwilling to divest or modify the scenario, you may want to contact Independence Compliance Onboarding by email () before accepting employment with the Deloitte US Firms to discuss whether your assigned legal entity, role, or office location would require you to make changes. Financial relationshipsitems marked with an asterisk (*) are common in India.
Business relationships
Employment relationships
Tip: Also consider certain relationships that you are aware of pertaining to your Close Family Members. “Close Family Members” includes your parents, step-parents, non-dependent children and siblings. Note that unlike your spouse, spousal equivalent and dependents, when it comes to Close Family Members, if you are not aware of these situations, you are not required to ask. Consider contacting Independence Compliance Onboarding if you are aware of a Close Family Member who has one of the following situations: a financial interest in a company that is material to his/her net worth or employment in an accounting, financial reporting or other significant role at a company. Definitions
Absent the specific relationships above, a Spousal Equivalent relationship may still exist based on individual facts and circumstances. Professionals are required to use professional judgment in determining whether a Spousal Equivalent relationship is deemed to exist. Although no one factor will necessarily indicate the existence of a Spousal Equivalent relationship, factors to be considered in making such determinations include the following:
Resources upon joining the Deloitte US FirmsDeloitte Entity Search and Compliance (DESC) System–An internal system that, among other things, contains information regarding entities that are restricted for independence purposes. This information will assist you in determining whether or not acquiring or having certain financial relationships would create a potential independence issue. Tracking & Trading System–An internal tool to help you monitor your compliance with independence requirements related to certain personal investments and financial relationships. You report the names of entities with which you, your spouse or spousal equivalent, and dependents have a financial relationship. The system then monitors these entities against the restricted entity list and informs you if there is a potential exception or conflict. Broker Data Import Program (BDIP)–A feature of the Tracking & Trading System that allows the professional to receive automatic downloads of their financial holdings from their authorized brokerage accounts. This minimizes much of the administrative nature of maintaining Tracking & Trading and ensures brokerage account transactions are recorded timely and completely.
Representation on Independence, Ethics and Compliance–A personal declaration or statement regarding the facts and circumstances associated with the various financial or other relationships you, your spouse or spousal equivalent, and certain family members may have that directly impact the ability of the Deloitte US Firms to conduct business. Which of the following is not allowed in a credit life insurance?Answer: b) Creditor requiring that a debtor buys insurance from a certain insurer. ~ In credit life insurances, creditor may require that the debtor has a life insurance, but they cannot tell you who to buy the insurance from.
What is the term for the period before an individual is eligible for coverage under the group plan?Waiting Period
The period that must pass before an employee or dependent is eligible to enroll (becomes covered) under the terms of the group health plan.
Which of the following terms describes making false statements about the financial condition of any insurer?Defamation is making statement which are false as to the financial condition of any insurer and which are calculated to injury any person engaged in the business of insurance.
Which of the following is an example of a producer being involved in an unfair trade practice?Which of the following is an example of a producer involved in an unfair trade practice of rebating? Telling a client that his or her's first premium will be waived if he/she purchased the insurance policy today.
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