KEY STUFF CHAPTER 3 Flashcards
three special defences to insider dealing
market maker acting in good faith
market information e.g. predator buying shares in target
price stabilisation rules
insider dealing is only for individuals under criminal justice act true or false
true
when must suspicious transaction and order reports be reported to the FCA
immediately after confirming suspicion
when are you allowed to deal in the closed period
distressed sale
sale that does not change interest e.g. between spouses
within how many days must PDMRs disclose dealing in their own shares
within 3 business days of the transaction
how long are ML related records kept
5 years after relationship ended
what are the 4 general ML offences and what is penalty
concealing
arrangements (assisting)
acquiring and or possessing
14 years + unlimited fine
knowingly prejudicing investigation
5 years and or unlimited fine
what are the two regulated sector offences for ML and what is max penalty
failure to report - 5 years + unlimited fine
tipping off - 2 years + unlimited fine
who is subject to the objective test
someone who had no idea a transaction was money laundering
should they reasonably have known?
max penalties for bribery for individuals and firms
individual - 10 years + unlimited fine
firm - unlimited fine
data protection penalties for higher in UK
17.5m or 4% turnover whichever greater
data protection penalties for standard in UK
8.7m or 2% of turnover whichever higher
EU data protection penalty
20m euros or 4% turnover whichever greater
which 2 things are exempt from disclosure and transparency rules
custodians and bare nominees
shares held as collateral
by when does crest report need to be made
by 8pm
