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Finance And Administration > C9 - Regulation And Supervisjon Of The Offshore Services Sector > Flashcards

C9 - Regulation And Supervisjon Of The Offshore Services Sector Flashcards

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1
Q

Primary legislation

A

FSMA, FSC

Regulation powers:
Enforce and sanctioning powers
Supervise adherence go jurisdictions calls
Fit and proper test - integrity, structure, resources, financial standing

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2
Q

Secondary legislation

A

Additional, detailed requirements
Codes of practice
Guidance - jurisdiction requirements

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3
Q

Data protection

Personal

A

Opt in
Social media
Identity

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4
Q

Data protection

Personal sensitivite

A

Medical
Explicit
Political
Religion

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5
Q

Data protection

Principles

A 
R - rights
U - unsecured country
L - length of time
E - excessive
P - purpose
A - accurate
L - lawfully obtained
E - environment
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6
Q

International bodies

Role

A

Standard settlor for securities markets

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7
Q

International bodies

Objectives

A

Protect investors
Fair markets
Reducing systemic risk

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8
Q

International bodies

Principles

A

Regulator
Self-regulator
Securities regulation
Issues

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9
Q

Insider dealing

Offences

A

D - dealing
E - encourage
D- disclosure

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10
Q

Insider dealing

Defences

A

P - profit not expected
D - disclosed
D - dealt anyway

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11
Q

Insider dealing

A

P - particular
S - specific
P - private
S - significant price move

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12
Q

Insider dealing

Penalty

A

7 years

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13
Q

Retail distribution review

A

Intended to raise standards investors can expect

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14
Q

Retail distribution review

Benefits

A

Understand advice service

Independent advice is independent

Advisor not influenced by commission

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15
Q

Retail distribution review

Elements

A

Advisor charging - transparent

Independent advice - clear

Professionalism - respect individuals

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16
Q

U.K. Regulation

Fca

A

Successor of fsa objectives:

Consumer protection
Integrity
Competition

17
Q

Fca 10 supervision principles

A 
Consistent messages
Communicate openly 
Robust
Judgment approach 
Fair outcome
Focus on big issues
Firms act in right spirit
Individual accountability
Examine business models and culture
Forward looking and pre-emotive
18
Q

Fca 11 principles for business

A 
Skill card and diligence 
Management and control
Financial prudence
Market conduct
Customer interest
Client communication 
Conflicts of interest
Customer relationship with regulator 
Integrity
Client asset 
Relationship with regulator
19
Q

Supervision pillars FCA

Firm

A

Systemic framework

20
Q

Supervision pillars FCA

Event driven

A

Unforeseen problems

21
Q

Supervision pillars FCA

Issues and products

A

Sector that may put clients at risk

22
Q

Market abuse

Insider dealing

A

Insider deals/attempts to deal in qualifying investment on basis of diner info relating to investment

23
Q

Market abuse

Improper disclosure of insider info

A

Insider disclosures info to another, other than in proper course of exercise

24
Q

Market abuse

Misuse of info

A

Behaviour based on info that’s not available to those using market but would, if available to user, be relevant to decision about terms in which to deal

25
Q

Market abuse

Manipulating transactions

A

Effecting transactions/orders to trade which may give false/misleading impression as to supply of or demand for investment/secure price of investment st abnormal/artificial level

26
Q

Market abuse

Manipulating devices

A

Effecting transactions/orders to trade which employ fictious devices/any for if deception/contrivance. Spreading/misleading info with view to increase price of shareholding and giving false impression of share price

27
Q

Market abuse

Dissemination

A

False/misleading impression about investment by person who knew info was false/misleading

28
Q

Market abuse

Distortion and misleading behaviour

A

Regular user market false/misleading impression as to supply of or demand for investment or that otherwise distorts the market in an investment

Finance And Administration (19 decks)

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