Chapter 7- Regulstory Process, Systems And Controls Flashcards

1
Q

Solvency II

A

Risk based solvency requirement
Protection and market competition
Location, tax, direct or reinsurance logged

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2
Q

UK/EU/Un sanctions

A

Asset freezing unit in HM treasury
Financial sanctions in the uk
Terrorism, state regimes, weapons of mass destruction

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3
Q

Cuba

A

No accounting, marketing, sales to Cuba

Helms burton act 1996

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4
Q

Data protection 1984

A

Protects loss of data and disclosure without consent

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5
Q

Data protection 1998

A

Replacement act

Not just computer data

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6
Q

8 principles of EU data protection directive

A
Fair and lawful
Specified purpose
Nit excessive
Accuracy
Processing
Data subjects rights
Protection
Transfer
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7
Q

Money laundering 3 stages

A

Placement
Layering
Integration

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8
Q

Criminal justice acts 1988 and 1993

A

First just drugs and terrorism

Now all crime proceeds

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9
Q

JMLSG

A

Joint money laundering steering group
Must have MLRO
Looks at breaches by FSA

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10
Q

Bribery act 2010

A

Bribing another, being bribed, bribing foreign official and failure to report

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