021-14 Wyo. Code R. § 14-5
(a) If the bank provides brokerage services directly, the Directors shall adopt written policies and procedures for evaluating comparative risks posed by offered securities and for ensuring that the investment offered and the attendant risks are suitable for the customer. Before a bank insurance agent or shared employee makes any bank-related sales of insurance, the Directors shall adopt written policies and procedures for evaluating comparative risks posed by offered insurance or annuities and for ensuring that the insurance and annuities offered are suitable for the bank customer.
(b) The bank procedures shall require that any bank employee who performs brokerage service activities or executes brokerage transactions shall obtain sufficient information to make a reasoned judgment about the suitability of investment products for each customer. Also, policies and procedures shall require that any bank insurance agent or shared employee shall obtain sufficient information to make a reasoned judgment about the suitability of insurance and annuities for each customer. At a minimum, before making recommendations, and consistent with the Rules of Fair Practice, inquiries shall be made and responses documented concerning the customers financial status, investment objectives and specific investment instructions, or coverage objectives and instructions.
(c) Bank procedures shall include a system for monitoring compliance with investment risk evaluations and suitability for customer investment goals and instructions. The bank may sell a security to a customer at the customers request, even if the investment is inconsistent with the banks recommendation, but the bank shall document its recommendation. Bank policies and procedures shall include a system for monitoring compliance with customer coverage objectives and instructions. A bank insurance agent or a shared employee may make a bank-related sale of insurance to a bank customer at the customers request, even if the insurance or annuity is inconsistent with the bank insurance agents or shared employees recommendation, but the bank insurance agent or shared employee shall document the recommendation.
(d) If a bank insurance agent or shared employee makes a bank-related sale of insurance, the bank insurance agent or shared employee shall forward any customer complaints arising from any bank-related sale of insurance to the Insurance Commissioner, the Commissioner, and the bank.
021-14 Wyo. Code R. § 14-5