Topic 14

Question 0

3 ML offences

Answer 0

Concealing
Arranging- enable someone to aquire, retain, use control
Acquiring- possess

Question 1

Proceeds of crime act 2002 did what?

Answer 1

Consol ml acts and amendments

No longer sep proceed of drugs from others

Question 2

When is client id needed

Answer 2

€15k whether single or link trans

Life ins premiums over €1000 annual, €2500 single

Question 3

Evidence of id must be retains for how long

Answer 3

5 yrs after relationship ended

5 years after transaction

Question 4

Penaties for ml

Answer 4

Arranging, aquiring, concealing- unlimited fine/& 14 yrs

Failing to disc or tipping off - unlimited fine/& 5 years

Question 5

Personal data is

Answer 5

Info about a living person who can be id’d from it

Question 6

Reportable complaints

Answer 6

Fin loss, material distress or material inconvience

Question 7

Complaint kept for

Answer 7

3 yrs

Mifid 5 years

Question 8

Fos max award

Answer 8

£150k + cost and interest

Question 9

Fscs claim limits

Ins cos

Answer 9

90% of claim no max

100% if ins is compulsory

Question 10

Fscs claim limits

Arranging and advising on general ins

Answer 10

90% of claim no max

100% if ins is compulsory

Question 11

Fscs claim limits

Accepting deps

Answer 11

€100k ie £85k

Question 12

Fscs claim limits

Designated investment

Answer 12

100% of 1st £50k

Question 13

Fos will look at:
Small bus with
Charitys with
Trustees with

Answer 13

Turnover does not exceed €2m
Income below £1m
Trust assets below £1m