Topic 24 Flashcards
Who prevents fraud arising from identity theft
FCA
What is data controller
Legal person who determines the purposes for which data are processed and how
What is data processor
Person who processes personal data on behalf of the data controllor
Who is responsible for GDPR
Information commissioner
What is the maximum penalty for GDOR breach
17.5m or 4% of organisations total annual turnover
Who is the pensions regulator responsible for
Regulation of work based pension schemes and some personal pension schemes
What are core activities under Mifid
Investment services and activities
What are non core activities
Ancillary services
Who includes principle of Eu passport
Mifid
What is meaning of Eu passport
Firm subject to Mifid has the right to operate throughout the EEA on the basis of a single authorisation in its home state
What is the purpose of directive on insurance mediation
Establish freedom for insurance intermediaries to provide services in all states throughout the EU
What do external auditors do
Concerned particularly with published financial statements and accounts
What is the role of internal auditor
Inform management of decisions by identifying problems and recommending possible solutions
Who are the compliance officer and money laundering reporting officer under
Senior management functions under the senior managers and certification regime
