Licensees are required to retain a copy of all monthly gifts exceeding what amount?

Licensees are required to retain a copy of all monthly gifts that exceed the specified threshold amount in order to ensure compliance with regulatory standards and maintain proper documentation. Setting the threshold at $100 reflects the necessity for oversight regarding the management of gifts, particularly as higher value gifts could be indicative of potential conflicts of interest or compliance issues. Retaining this documentation helps in auditing and providing transparency in transactions between the licensees and clients or stakeholders. This part of the governance framework is crucial as it protects both the integrity of the licensee’s operations and the trust of the public.

When the threshold is set at $100, it emphasizes a level of scrutiny while being considerate of smaller, routine gestures that may not require the same level of record-keeping. This balance helps streamline operations while still upholding ethical standards and accountability.