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Can you summarize 9 NYCRR 5014.15?
Courier Services > Audit and financial controls.
Short Summary
This document governs the audit and financial controls for courier services operating under the New York State Gaming Commission. Courier services are required to provide audited financial statements annually, unless waived by the commission. They must also submit a management letter listing any internal control or operational weaknesses noted during the audit, along with a response outlining corrective actions taken or planned. If a courier service or its affiliates are publicly held, they must provide written notice of any reports filed with the United States Securities and Exchange Commission or other securities regulatory agencies. The commission has the authority to conduct audits or reviews of financial controls and records at the licensee’s expense. Additionally, courier services must submit an anti-money laundering compliance finding statement each year, establish internal policies and procedures to assess anti-money laundering risks, designate a compliance officer, conduct audits, train employees, assign responsibility for compliance, and use automated programs for compliance when applicable.
Whom does it apply to?
Courier services operating under the New York State Gaming Commission
What does it govern?
Audit and financial controls for courier services operating under the New York State Gaming Commission
What are exemptions?
The commission may waive the requirement for audited financial statements upon written request from the licensee
What are the Penalties?
The commission has the authority to conduct, or have conducted at the licensee's expense, an audit or review of financial controls and records
Jurisdiction
New York