FSMA and RAO lecture

Question 1

Which verbs should flag up to you potential marks for FSMA related qs?

Answer 1

• advising on
• dealing in
• arranging

investment products on behalf of clients.

Question 2

What section of FSMA make it a criminal offence to carry out a ‘regulated activity’ w/o authorisation or exemption?

Answer 2

s. 19(1)

Question 3

What is an eg of a specified activity under Article 25?

Answer 3

Buying an insurance policy at request of client.

Question 4

What is an eg of specified activity under Article 53?

Answer 4

Giving professional OPINION AND RECOMMENDATION as to the merits of insurance policies your client could choose from.