The asset administration function is subject to various state and federal laws and regulations. True or False?

The asset administration function is indeed subject to various state and federal laws and regulations, making the statement true. This is because asset administration encompasses a wide range of activities related to the management, oversight, and reporting of assets, such as investments, real estate, and other forms of property. These activities are regulated to ensure compliance with legal standards and to protect the interests of stakeholders, including investors and clients.

Regulations may include those relating to fiduciary duties, taxation, reporting requirements, and regulations specific to investment management firms and financial institutions. These laws are designed to uphold transparency, fairness, and ethical behavior in the administration of assets. Hence, understanding and adhering to these laws is a critical component of effective asset administration.