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IMC Unit 1 > Other IMC data > Flashcards

Other IMC data Flashcards

1
Q

Length of time to keep record for MiFID business

A

5 years

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2
Q

Length of time to keep record for non-MiFID business

A

3 years

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3
Q

Length of time to keep record for pensions transfers

A

Indefinite

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4
Q

MiFID firm Per se professional clients must have two of three

A
  • 20m EUR balance sheet
  • 40m EUR net turnover
  • 2m EUR in funds
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5
Q

Non-MiFID firm per se professional clients must have this… or two of three

A
  • £5m in called up share capital
    or
    -12.5m EUR balance sheet
  • 25m EUR net turnover
  • Average number of employees 250
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6
Q

Elective professional clients must have two of three

A
  • 10 transactions a quarter for four quaters
  • Portfolio of 500,000 EUR
  • At least 1 year of appropriate work experience in financial services
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7
Q

Punishment for non-exempt financial promotions not being performed by an authorised person

A

2 years and unlimited fine

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8
Q

How long is the period to show past performance over, period (if possible) and intivals

A

5 years in 12 months

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9
Q

Cancellation period for life policies

A

30 days

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10
Q

Cancellation period for other packaged products

A

14 days

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11
Q

Automatic reporting period for retail clients and if requested

A

6 months and 3 months

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12
Q

Reporting period for a transaction by transaction report for retail clients

A

12 months

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13
Q

Minimum amount of client assets held in a large CASS firm

A

£ 1 billion

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14
Q

Range of client assets held in a medium CASS firm

A

£1 million to £1 billion

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15
Q

Maximum amount of client assets held in a small CASS firm

A

£1 million

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16
Q

A firm must be able to tell a client the total amount of assets they hold for them in …

A

2 days

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17
Q

Amount of time you must record keep for life policy or pensions schemes

A

5 years

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18
Q

How long does a firm have to resolve a complaint before it gets referred to the FOS

A

8 weeks

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19
Q

Conditions for a complaint to be referred to the FOS. Within how many years of the event. Within how many years of customers knowing. within how many months of the companies final response

A

-6 years
-3 years
-6 months

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20
Q

Max compensation the FOS can dish out

A

£375,000

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21
Q

FSCS (Financial Services Compensation Scheme) if a company gets liquidated

A
  • £85,000 per person
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22
Q

Max punishment for insider trading and misleading information. Both courts

A

Magistrates - £5,000 fine and 6 months
Crown - Unlimited fine and 10 years

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23
Q

Market abuse max fine

A

unlimited

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24
Q

Firms must seek identification of a new client if the transaction exceeds

A

EUR 7,500

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25
Q

Offences under the proceeds of crime act (money laundering). For Concealing/acquiring/assisting. For failure to report/prejudicing an investigation. For tipping off/ making false statements.

A
  • 14 years
  • 5 years
  • 2 years
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26
Q

Max punishment for UK Bribery act. Individual then company

A
  • 10 years
  • Unlimited fine
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27
Q

Conditions for a company not needing a prospectus. Max number of persons. Minimum spend per investor, Max total consideration over 12 months. Max market size.

A
  • 150
  • 100,000 EUR
  • 5m EUR
  • 10%
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28
Q

High Growth Segment conditions. Size of float, compound growth rate over last 3 years

A

Free float of 10%
20% compound growth rate of 3 years

29
Q

Additional conditions for premium list. months of working capital. years of financial statements.

A

12 months
3 years

30
Q

Conditions for the standard list. Min value of equities considered. Min value of debt securities. Minimum free float %

A

£30m
£200,000
10%

31
Q

Aquis Growth Market conditions. Months of reports. percentage free float. months of working capital

A

24 months
10%
12months

32
Q

Dislosure and transparency rules reporting frequency. How many months after the end of the financial year. How many months after the midpoint of the financial year.

A

4 months
2 months

33
Q

When to have a AGM

A

Every year within 6 months of the end of the financial year

34
Q

How often do you vote on a renumeration policy

A

Every 3 years

35
Q

Days of notice before AGM

A

21 days

36
Q

percentage of vote needed for ordinary resolution. Days it takes

A

50%. 14

37
Q

Special resolution percentage of votes needed. Days it takes

A

75%. 21 days

38
Q

8 benchmarks of share percentage at which an investor needs to inform the market within 4 business days.

A

5,10,15,20,25,30,50,75

39
Q
A
40
Q

Benchmark of share percentage at which a person of material interest must make their stake in the company public and the benchmarks thereafter that they have to deliver notice within two business days

A

3% then every whole number after

41
Q

Competition Markets Authority have to have a look at a merger if the two companies shares exceed… %of the market or if their turnover exceeds …

A

25% and £70m

42
Q

Time taken for the CMA to conduct an initial study

A

40 days

43
Q

Takeover Code TO T14 and T21

A
  • Offer document is accepted and published
  • Posting of first defence document
  • Earliest closing date for offer
44
Q

Takeover Code T39, T46, T60

A
  • Last date for target company announcement
  • Last date for predator to revise offer
  • Final closing date of offer
45
Q

Time after T60 where an unsuccessful predator company cannot make another offer

A

12 months

46
Q

Percentage share when a predator must make an offer available to all shareholders of a company. When it is then made unconditional

A

30%. 50%

47
Q

Number of days an offer from a predator company remains open after becoming unconditional

A

14 days

48
Q

Percentage share when a predator can force the sale of remaining shares in a company

A

90%

49
Q

High Net Worth, income and or net investable

A

£100,000 income and £250,000 net investable

50
Q

Threshold of debt where creditors can call a creditors petition to get you to court

A

£5k

51
Q

Threshold where an Alternative Investment Fund is subject to AIFMD (Directive). Using leverage and not using leverage

A
  • EUR 100m
  • EUR 500m
52
Q

Pension Protection Fund cover. % for those who are retired. % for those who are yet to retire

A

100% and 90%

53
Q

Take Over Panel Levy, cost and when it applies

A

£1 for transactions above £10,000

54
Q

Type of system: SETS

A

Order

55
Q

Type of system: SETSqx

A

Order and Quote

56
Q

Type of system: SEAQ

A

Quote (very illquid shares)

57
Q

Settlement periods, equities then bonds

A

T+2 and T+1

58
Q

Time taken for a firm to return client assets upon agreed reconciliation

A

10 business days

59
Q

Pensions and life policy promotions, how long do you keep the records

A

6 years`

60
Q

How long can past losses be carried forward for CGT reasons?

A

Indefinitely

61
Q

How often must the statement of investment principles SIP be redrawn?

A

Every three years

62
Q

At what age do tax breaks for pensions no longer apply

A

75 years olds

63
Q

Number of business days an investor with material interest has to declare share holdings have crossed a threshold. UK and EU

A

2 days and 4 days

64
Q

Max fine the ICO can impose

A

£500,000

65
Q

Max punishments for breaking GDPR (2)

A

4% annual global turnover or EUR 20m

66
Q

Premiums restricted to …. for qualifying policys issued after the 6 April 2013

A

£3,600

67
Q

Withdrawals from life funds which are tax deferrable

A

5%

68
Q

When to notify the ICO after data breach

A

Within 72hours

IMC Unit 1 (3 decks)

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