C. Scope And Powers Flashcards
What powers does the FCA have over individuals and firms?
Enforcement matters, supervision matters, Authorisation matters.
FSMA allows the FCA to take action such as;
Withdrawing a firms authorisation, disciplining authorised firms, requiring skilled persons reports, imposing penalties for market abuse, applying to the court for injunction and restitution orders, prosecutions various offences.
Market abuse behaviours include?
Insider dealing, unlawful disclosure, manipulating transactions, manipulating devices, dissemination, misleading behaviour and distortion.
What is the maximum imprisonments and fine?
Seven years imprisonment and unlimited fine.
From the fourth money laundering directive the FCA is able to?
Levy penalties on registered businesses that are in breach of money laundering, prosecute an officer of a registered business that is in breach of money laundering regulations.
What is the punishment for failing to report any knowledge or suspicion?
Five years imprisonment and/or a fine.
