PROFESSIONAL ROLES
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Qualified intermediary due diligence
Also called: QI due diligence · selecting a QI
The process of evaluating a QI’s experience, controls, financial safeguards, cyber practices, banking relationships, insurance and documentation.
What it means in practice.
Federal tax rules define the QI safe harbor, but operational risk management requires additional diligence because exchange funds may be substantial.
Why it matters.
Professional competence and custody controls are separate questions from technical eligibility to serve as QI.
Additional notes.
Federal tax rules define the QI safe harbor, but operational risk management requires additional diligence because exchange funds may be substantial.
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