CISI UK FINANCIAL REGULATION

CISI Unit 1 - UK Regulation Who does the FCA report too? - Answer-HMT Who does the PRA report too? - Answer-The BOE Who did the PRA and FCA replace? - Answer-The FSA, as of the FSA2012 FCA's Strategic Objective - Answer-Make sure relevant markets function well FCA's Operational Obje...

The Regulatory Environment: UK Financial Regulations CISI When did the Financial Services and Markets Act (FMSA) come into effect? - Answer-Nov 30 2001 What did the FMSA establish? - Answer-The FSA to replace self-regulatory organisations (SROs) The Financial Ombudsman Service (FOS) The Fina...

CISI Financial Regulations A firm engaging in a transaction triggered the COBS requirement to display proof of appropriateness for the transaction because the client: - Answer-Engaged in execution only trades Appropriateness is for non-advised trades and protects both professional and retail c...

CISI UK Financial Regulation AML - Answer-Anti-Money Laundering BIPRU - Answer-Prudential sourcebook for banks, building societies and investment firms CASS - Answer-Client assets CFT - Answer-Combatting the financing of terrorism COBS - Answer-Conduct of Business Sourcebook COCON ...

End of Chapter Questions 1-5 - CISI Financial Regulations Chpt 4 Q 16: When do the prospectus advertisements rules apply? (NOTE, not covered in the slides so don't worry too much) - Answer-The prospectus rules apply to offers, or admission to trading, of transferrable securities in respect of wh...

Competition and Markets Authority (CMA) -

CISI Regulatory exam FSAP - Answer-Financial services action plan - creates and implements directives on an EU level. Aims to harmonise financial services rules across EU. Includes EU directives (to be implemented into national law) and EU regulations (binding on member states) FSAP directives...

UK Regulation & Professional Integrity Max punishment for Money Laundering - Answer-14 years Max punishment for Market Abuse - Answer-unlimited fine Max punishment for breaching gen prohibition - Answer-2 years Max punishment for providing funding to terrorists - Answer-5 years CISI P...