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Investment Environment > financial crime > Flashcards

financial crime Flashcards

1
Q

insider dealing is a criminal offence prosecuted under

A

criminal justice act 1993

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2
Q

market abuse is a civil offence under

A

market abuse regulation

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3
Q

misleading statement and impressions criminal offence

A

FSA 2012

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4
Q

insider dealing penalty

A

10yrs +/or unlimited fine

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5
Q

market abuse penalty

A

unlimited fine

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6
Q

misleading statements and impressions penalty

A

10yrs +/or unlimited fine

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7
Q

insider dealing offences

A

dealing on
encouraging others to del on
disclosure of
1

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8
Q

insider dealing offences

A

dealing on
encouraging others to del on
disclosure of

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9
Q

insider dealing excluded investments

A

assets with no secondary market e.g. unit trust and shares in invesmtent companies with variable capital
commodities and commodity derivatives
foreign exchange markets
insurance products

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10
Q

special defences for insider dealing

A

-stabilisation
-market information
-market makers in the ordinary course of business

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11
Q

insider dealing enforcement

A

-FCA + RIE
-FCA prosecutes

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12
Q

misleading statements and impressions offences

A

-S89 misleading statements
-S90 misleading impressions
-S91 misleading statements in relation to benchmarks

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13
Q

misleading statements defences

A

-reasonably believed that statement or act was not false or misleading
-acted in conformity with price stabilising rules
or
control of information rules
or
share buy-back rules

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14
Q

market abuse regulation (MAR) offences (EU regulation)

A
  • cannot engage or attempt to engage in insider dealing
  • recommend or induce another person to engage in insider dealing
  • unlawfully disclose inside information
  • not engage in or attempt to engage in mrkt manipulation
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15
Q

FCA guidance on market abuse

A
  • insider dealing
  • improper disclosure
  • manipulating transactions
  • manipulating devices
  • dissemination
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16
Q

FCA market abuse regulator sanctions

A
  • withdrawal of regulated status
  • financial penalties
  • public statements
  • applying to courts for injuctions and restituion
17
Q

money laundering: proceeds of crime act (POCA) 2002

A
  1. placement
  2. layering
  3. integration
18
Q

money laundering regulations 2017 (similar to JMLSG)

A
  • risk based approach to AML (+JMLSG)
  • customer due diligence
  • reporting suspicions
  • record keeping (5yrs, failure to comply 2yrs or unlimited fine)
19
Q

POCA 2002: money laundering offences applied to individuals

A
  • participating / assisting: 14yrs +/or unlimited fine
  • failure to report: 5yrs +/or unlimited fine
  • tipping off: 2yrs +/or unlimited fine
  • making false or misleading statements in relation to money laundering: 2yrs
20
Q

UK Bribery Act 2010 offences

A
  • paying or offering bribes (section 1)
  • receiving or soliciting bribes (section 2)
  • failing to prevent bribery (section 7)
  • bribery of foreign officials (section 6)

individuals 10yrs jail
company unlimited fine

21
Q

insider information

A

non-public
specific
price sensitive
inside source

22
Q

insider dealing: transactions affencted

A

transactions on
- exchange
- proffessional intermediary

23
Q

insider dealing+misleading statements: court penalties

A

magistrate’s court: 5,000 + 6 mnths
crown court: 10 years + unlimited fine

24
Q

market abuse qualifying invesments

A

market abuse if its occurs in UK
or
relation to qualifying investment (investment handled on Uk RIE)
traded on prescribed market (regulated mrkt, MTF,OTF)
(applies to emissions allowance, commodity derivatives and spot markets)

25
Q

FCA code of market conduct : market abuse occuring in relation to

A
  • qualifying investments traded or request to trade on a prescribed market
  • related investments pf a qualifying investment
26
Q

breach of MLR issued by treasury and approved by parliament penalty

A

max 2 yrs jail

27
Q

criminal finances act 2017 targets

A
  • money laundering
  • terrorist financing
  • corruption
  • tax evasion

Investment Environment (10 decks)

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