Good faith reporting is defined as

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Multiple Choice

Good faith reporting is defined as

Good faith reporting means filing disclosures when you have a genuine suspicion grounded in observed facts and you act with honest belief and reasonable care. It isn’t about having proven evidence or waiting for a full investigation to conclude; you report when you have a reasonable basis to suspect potential illicit activity and you take appropriate steps to document what you’ve seen. The emphasis is on honesty, avoid tipping off, and using careful judgment in how you report. Disclosures after investigations aren’t required; delays to complete investigations aren’t the standard you’re aiming for in good faith reporting. Requiring proven evidence sets the bar too high, because regulators recognize that suspicious activity may be identified before proof is established. And disclosures to social media are inappropriate and undermine confidential regulatory processes.

Good faith reporting means filing disclosures when you have a genuine suspicion grounded in observed facts and you act with honest belief and reasonable care. It isn’t about having proven evidence or waiting for a full investigation to conclude; you report when you have a reasonable basis to suspect potential illicit activity and you take appropriate steps to document what you’ve seen. The emphasis is on honesty, avoid tipping off, and using careful judgment in how you report.

Disclosures after investigations aren’t required; delays to complete investigations aren’t the standard you’re aiming for in good faith reporting. Requiring proven evidence sets the bar too high, because regulators recognize that suspicious activity may be identified before proof is established. And disclosures to social media are inappropriate and undermine confidential regulatory processes.

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