Chapter 3 (Associated Legislation & Regulation) Flashcards
Who administers and looks after things relating to the Data Protection Act (e.g., registering personal info)?
Information commissioners office
Which gives the FCA the power to prosecute insider dealing offences?
Financial Services and Markets Act 2000 (although the offence is contained within the criminal justice act 1993)
To whom must the Money Laundering Reporting Officer report suspicious activities?
National crime agency (NCA)
Which is the inter-governmental body that sets international standards that aim to prevent money laundering and terrorist financing activities and the harm they cause to society?
National Action Task Force
How long after a transaction must a confirmation be sent to the client?
By the next business day
Relating to the capital requirements directive, how much capital should all Firms have?
Under the scope of MiFID, the firms should have more than the amount of regulatory specified capital
EMIR sets out requirements for reporting and risk management in the OTC derivative markets. Which firms are covered by this regulation?
All EEA-incorporated and established entities
How often must the MLRO report to senior management?
Every 12 months
Under which act is insider dealing a criminal offence?
Criminal Justice Act 1993
According to the Capital Requirements Directive, what should a firm do if its financial resources fall below the financial resources requirement set by the PRA?
Inform PRA immediately
Which act outlines criminal money laundering offences
Proceeds of Crime Act 2002
In relation to a breach of data protection, to whom does a data controller report?
Information commissioner
According to the takeover code, what best defines ‘dealings’?
Buying or selling securities and derivatives
