What is escrow/trust accounting and what records must a broker maintain?

• A. The practice of handling client funds in a separate trust account; maintain ledgers of all funds received and disbursed with monthly statements.
• B. The practice of counting funds for personal use; maintain personal bank statements.
• C. The practice of handling client funds in a separate trust account; maintain detailed records, reconciliation, and monthly statements.
• D. The practice of co-mingling client funds with business funds; maintain annual summaries.

Answer: (C)