Financial Markets Conduct Act Flashcards

1
Q

The introduction of the _____________________ (the FMC Act) affected the financial reporting obligations of many companies and entities involved in creating, promoting, selling or trading financial products.

A

Financial Markets Conduct Act 2013

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2
Q

The introduction of the Financial Markets Conduct Act 2013 (the ____________) affected the financial reporting obligations of many companies and entities involved in creating, promoting, selling or trading financial products.

A

the FMC Act

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3
Q

The introduction of the Financial Markets Conduct Act 2013 (the FMC Act) affected the financial reporting obligations of many companies and entities involved in creating, promoting, selling or trading ___________________.

A

financial products

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4
Q

All _______________ must prepare their financial statements in line with the requirements in Part 7 of the FMC Act.

A

FMC reporting entities

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5
Q

All FMC reporting entities must prepare their _______________ in line with the requirements in Part 7 of the FMC Act. All FMC reporting entities must prepare their financial statements in line with the requirements in Part 7 of the FMC Act.

A

financial statements

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6
Q

All FMC reporting entities must prepare their financial statements in line with the requirements in __________ of the FMC Act.

A

Part 7

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7
Q

All FMC reporting entities must prepare their financial statements in line with the requirements in Part 7 of the _____________.

A

FMC Act

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8
Q

Under _________________ of the Financial Markets Conduct Act (2013), FMC Reporting Entity includes (i) ‘every credit union’ and (j) ‘every building society’.

A

Part 7, section 451

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9
Q

Under Part 7, section 451 of the ________________________, FMC Reporting Entity includes (i) ‘every credit union’ and (j) ‘every building society’.

A

Financial Markets Conduct Act (2013)

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10
Q

Under Part 7, section 451 of the Financial Markets Conduct Act (2013), _________________includes (i) ‘every credit union’ and (j) ‘every building society’.

A

FMC Reporting Entity

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11
Q

Under Part 7, section 451 of the Financial Markets Conduct Act (2013), FMC Reporting Entity includes (i) __________________ and (j) ‘every building society’.

A

(i) ‘every credit union’

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12
Q

Under Part 7, section 451 of the Financial Markets Conduct Act (2013), FMC Reporting Entity includes (i) ‘every credit union’ and (j) ___________________.

A

(j) ‘every building society’

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13
Q

Under _______________ of the Financial Markets Conduct Act (2013), a company that issues equity securities is not an FMC Reporting entity if less than 50 shareholders.

A

section 452

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14
Q

Under section 452 of the _____________________, a company that issues equity securities is not an FMC Reporting entity if less than 50 shareholders.

A

Financial Markets Conduct Act (2013)

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15
Q

Under section 452 of the Financial Markets Conduct Act (2013), a _____________________ is not an FMC Reporting entity if less than 50 shareholders.

A

company that issues equity securities

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16
Q

Under section 452 of the Financial Markets Conduct Act (2013), a company that issues equity securities is not an _________________ if less than 50 shareholders.

A

FMC Reporting entity

17
Q

Under section 452 of the Financial Markets Conduct Act (2013), a company that issues equity securities is not an FMC Reporting entity _____________________.

A

if less than 50 shareholders

18
Q

Under ___________________, every FMC reporting entity must ensure that, within 4 months after the balance date of the entity, financial statements that comply with generally accepted accounting practice are—
(a)
completed in relation to the entity and that balance date; and
(b)
dated and signed on behalf of the entity by 2 directors of the entity or, if the entity has only 1 director, by that director.

A

section 460 of the FMC Act 2013

19
Q

Under section 460 of the FMC Act 2013, every FMC reporting entity must ensure that, within 4 months after the balance date of the entity, ____________________________ are—
(a)
completed in relation to the entity and that balance date; and
(b)
dated and signed on behalf of the entity by 2 directors of the entity or, if the entity has only 1 director, by that director.

A

financial statements that comply with generally accepted accounting practice