A.4 Financial services regulations and requirements

Question 1

A standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia, and five U.S. territories.

Answer 1

National Association of Insurance Commissioners (NAIC)

A.4 Financial services regulations and requirements

Question 2

Provides deposit insurance to depositors in U.S. commercial banks and savings institutions.

Answer 2

Federal Deposit Insurance Corporation (FDIC)

A.4 Financial services regulations and requirements

Question 3

Regulates and supervises all national banks and federal savings associations as well as federal branches and agencies of foreign banks.

Answer 3

Office of the Comptroller of the Currency (OCC)

A.4 Financial services regulations and requirements

Question 4

Model legislation for the regulation of securities markets at the state level, intended to coordinate state securities law with federal law.

Answer 4

Uniform Securities Act

A.4 Financial services regulations and requirements

Question 5

Expanded the scope of AML regulations to prevent, detect, and prosecute international money laundering and the financing of terrorism.

Answer 5

Patriot Act

A.4 Financial services regulations and requirements

Question 6

Requires financial institutions to explain their information-sharing practices to their customers and to safeguard sensitive data.

Answer 6

Gramm-Leach-Bliley Act (GLBA)

A.4 Financial services regulations and requirements

Question 7

A standard in the investment industry that ensures investment advisors know detailed information about their clients’ risk tolerance, investment knowledge, and financial position.

Answer 7

Know Your Customer (KYC) Rules

A.4 Financial services regulations and requirements

Question 8

A set of procedures, laws, and regulations designed to stop the practice of generating income through illegal actions.

Answer 8

Anti-Money Laundering (AML) Regulations

A.4 Financial services regulations and requirements

Question 9

Part of the Dodd-Frank Act, it restricts United States banks from making certain kinds of speculative investments that do not benefit their customers.

Answer 9

Volcker Rule

A.4 Financial services regulations and requirements

Question 10

A regulation that requires broker-dealers to act in the best interest of their retail customers when making a recommendation of any securities transaction or investment strategy.

Answer 10

Regulation BI (Best Interest)

A.4 Financial services regulations and requirements

Question 11

Provides an exemption from the registration requirements for securities offerings made outside the United States by U.S. and foreign issuers.

Answer 11

Regulation S

A.4 Financial services regulations and requirements

Question 12

Provides exemptions from the registration requirements of the Securities Act of 1933, allowing companies to raise capital through the sale of securities without having to register them with the SEC.

Answer 12

Regulation D

A.4 Financial services regulations and requirements

Question 13

An agency created under the Dodd-Frank Act to regulate the offering and provision of consumer financial products and services.

Answer 13

Consumer Financial Protection Bureau (CFPB)

A.4 Financial services regulations and requirements

Question 14

A self-regulatory organization that oversees brokerage firms and exchange markets to ensure fair and honest industry practices.

Answer 14

Financial Industry Regulatory Authority (FINRA)

A.4 Financial services regulations and requirements

Question 15

Enacted to enhance corporate responsibility, financial disclosures, and combat corporate and accounting fraud.

Answer 15

Sarbanes-Oxley Act of 2002

A.4 Financial services regulations and requirements

Question 16

Regulates the actions of investment advisers, requiring them to register with the SEC and adhere to regulations designed to protect investors.

Answer 16

Investment Advisers Act of 1940

A.4 Financial services regulations and requirements

Question 17

Governs the trading of securities in the secondary market, ensuring greater financial transparency and combating fraud and manipulation in the securities markets.

Answer 17

Securities Exchange Act of 1934

A.4 Financial services regulations and requirements

Question 18

This act regulates the initial sale of securities to the public, requiring companies to provide significant information about securities being offered and prohibiting deceit, misrepresentations, and fraud.

Answer 18

Securities Act of 1933

A.4 Financial services regulations and requirements

Question 19

A federal law that aims to prevent the recurrence of events that led to the 2008 financial crisis. It created new financial regulatory processes that enforce transparency and accountability.

Answer 19

Dodd-Frank Wall Street Reform and Consumer Protection Act

A.4 Financial services regulations and requirements