Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Ethics > Regulation of key acts > Flashcards

Regulation of key acts Flashcards

1
Q

Who policies the Bribery Act 2010?

A

The Serious Fraud Office

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What are penalties under the Bribery Act 2010?

A

10 years or unlimited fine

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What are the key provisions of the Bribery Act 2010?

A

Makes it offence to receive a bribe, bribe, bribe a public official or fail to prevent a bribe
Based on 6 principles - proportionality, top level commitment, risk assessment, due diligence, communication, regular review

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Who would you speak to at LSH concerning Bribery?

A

Jasion Honisett

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What’s the key legislation regarding money laundering?

A

Money Laundering, Terrorist Financing and Transfer of Funds 2017

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What are the key provisions of the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017, amended 2019?

A

Cover estate agency and relevant financial business work
- Requires firms to have appropriate policies and procedures in place, including staff training
- Need to take a risk based approach - CDD and EDD
- CDD on both sides of a transaction, EDD for PEPs
- Estate agents need to register with HMRC is undertaking high value lettings
- Need to have a money laundering officer

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What are the penalties under the Money Laundering, Terrorist Financing and Transfer of Funds 2017?

A

Unlimited fine + 14 years for assisting and 5 years for tipping off

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Who would you speak to at LSH regarding AML?

A

Kevin Maddern

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What are the key provisions of the Economic Crime Act 2022?

A

Aims to increase transparency about who controls overseas entities owning property in the UK
Can’t register the an acquisition on land registry if not registered on the Register of Overseas Entities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Who you speak to regarding Economic Crime Act 2022?

A

Kevin Maddern

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What are the penalties under the Economic Crime Act 2022?

A

£2,500 per day or 5 years imprisonment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What are the key provisions under the Proceeds of Crime Act 2002?

A

Aims to reduce use of criminal property based on 3 key areas of offence - concealing criminal property, acquisition or use of criminal property, entering an arrangement that you believe facilitates the use of criminal property

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Who policies the Proceeds of Crime Act 2002?

A

National Crime Agency

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What are the penalties under the Proceeds of Crime Act 2002?

A

Up to 5 years imprisonment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What are the key provisions of the Health & Safety at Work Act 1974?

A

Duty on employers to ensure employee wellbeing - 4 key provisions-
- Employer duties
- Employee duties
- Inspector obligations
- Enforcement action

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What are employer duties under the Health & Safety at Work Act 1974?

A
  • Protecting the health and wellbeing of employees and keeping visitors and contractors safe by
  • providing safe equipment,
  • safe systems
  • policies and training
  • risk assessment
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What are employee duties under the Health & Safety at Work Act 1974?

A
  • take care of self and colleagues
  • avoid taking unnecessary risks
  • remain aware of surroundings and actions
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What are inspector obligations under the Health & Safety at Work Act 1974?

A
  • Right to inspect and make enquiries
  • Right to inspect without an appointment
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What are enforcement actions under the Health & Safety at Work Act 1974?

A

Action can be taken if an employee has been injured, or if a business has been found to be in breach of regulations
Up to 2 years or £20,000 fine

20
Q

Who policies the Health & Safety at Work Act 1974?

A

HSE - Health & Safety Executive

21
Q

Who would you speak to at LSH re H&S?

A

Christine Robinson - H&S Officer

22
Q

Penalties under Health & Safety at Work Act 1974?

A

£20,000/ 2 years imprisonment

23
Q

Key provisions of the Data Protection Act 2018?

A

Implements GDPR into UK law
Empowers individuals to access and control personal information held about them

24
Q

What are the 5 key requirements for firms under the DPA 2018?

A
  1. Data controller who controls how and why data is processed
  2. Data accountability - need to be able to show ICO how they comply
  3. Report high risk data breaches to ICO within 72 hrs
  4. Individual rights around access and erasure
  5. Risk assessmen
25
Q

What are the 6 principles of GDPR?

A
  1. Data is processed transparently and fairly
  2. Data is processed for an explicit and legitimate purpose and not processed beyond this
  3. Data collection is limited to what’s necessary
  4. Data is kept accurate and up to date, and inaccuracies are verified without delay
  5. Data is not held longer than is necessary
  6. Data is processed securely and confidentially
26
Q

What are the 8 individual rights under GDPR?

A
  1. To be informed
  2. To access
  3. To erasure
  4. To rectification
  5. To restrict processing
  6. To object
  7. To data portability
  8. To rights around automated processing and profiling
27
Q

Who policies the DPA 2018?

A

ICO - Information Comissioners Office

28
Q

What are the penalties under DPA 2018?

A

Lesser offences = £8.5m/ 2% global turnover
Serious offences = £17.5m/ 4% global turnover

29
Q

Who would you speak to at LSH re data protection issues?

A

Sarah Fendt - Data protection officer

30
Q

What are the key provisions of the Freedom of Information Act 2000?

A

Public right to access information held by public authorities
Authorities generally have 20 days to respond
Request can be refused if data is already available, or if it would compromise criminal investigation etc

31
Q

What are the penalties under the Freedom of Information Act 2000?

A

Fine

32
Q

What are the key provisions of the Privacy and Electronic Communications Regulations 2003?

A

Gives specific rights around electronic marketing - calls texts emails etc, as well as those who use cookies and compile telephone directories
Sits alongside GDPR

33
Q

Who policies the privacy and electronic communications regulations 2003?

A

ICO - Information Commissioners Office

34
Q

What are the penalties under Privacy and Electronic Communications Regulations 2003?

A

£500,000 fine, criminal prosecution, enforcement action

35
Q

What are current MEES regulations?

A

Since April, all leases have needed to be E or above
Upcoming B by 2030 + interim target
But recently this has been said will not apply to resi lettings

36
Q

What legislation enforces MEES?

A

Energy Efficiency Regulations 2015, amended 2019

37
Q

What is the fine for breaching MEES?

A

Under 3m = £5k or 10% RV
Over 3m = £10k or 20% RV

38
Q

Who policies MEES?

A

Local Authority

39
Q

What are the key provisions of the Consumer Protection from Unfair Trading Regulations 2008?

A

Protects consumers against unfair and misleading selling practices
Applicable to estate agency

40
Q

Who policies the Consumer Protection from Unfair Trading Regulations 2008?

A

Trading standards office of the local authority

41
Q

What are possible penalties under Consumer Protection from Unfair Trading Regulations 2008?

A

Unlimited fine, prohibition order, 2 years imprisonment

42
Q

What are the key provisions of the Estate Agents Act 1979?

A

Promotes honesty, accuracy and openness in agency process - applies to freehold and leasehold with capital value
- Provides that you need to declare personal interests, provide clear TOE, tell client about all received offers

43
Q

Who policies the Estate Agents Act 1979?

A

National Trading Standards

44
Q

What are the possible penalties under the Estate Agents Act 1979?

A

Warning, prohibition order, fine

45
Q

What are the key provisions of the Misrepresentations Act 1967?

A

Protects consumers from false statements made during pre-contractual enquiries

46
Q
A

Ethics (6 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions