Topic 18 Flashcards
1
Q
What is the criminal proceeding against a senior manager of “reckless misconduct”
A
7 years prison and/or an unlimited fine
2
Q
What are the responsibilities of a senior manager
A
- take responsibility for a firms compliance and produce relevant management information
3
Q
Who do training and competence not apply to
A
Firms transacting wholesale business with non retail clients
4
Q
How often is an adviser assessed again after being competent?
A
Every 12 months
