Unit 6 - Professional & Ethical Banking Flashcards
What is the US case study on whistleblowing?
One of the 1st whistleblowing cases involving cybersecurity was made against Cisco Systems in 2011 on behalf of whistleblowing client who alleged challenges with a system sold to the American Government across many sites
What is NOT correct about the UK’s Consumer Duty?
Applies only to products delivered digitally
What describes the fiduciary relationship between banks & their customers?
Customers place their trust in banks
What value of Kidder’s conflicts would be involved if an employee is asked by senior management to report on the work of a colleague who is suspected of malpractice?
Truth v loyalty
What is an advantage of a rules-based professional code as opposed to a principles-based one?
It is prescriptive and is difficult to misinterpret
What may be the subject of protected whistleblowing?
Granting a loan to a company for operations that will cause water pollution
Which of these principles is linked to the Treating Customers Fairly regulation?
- Customers interests
What type of risk is with lending?
Credit Risk
What product is not covered by the Lending Code?
Mortgages
What does the Lending Code cover?
Loans, credit cards, charge cards, current account overdrafts, commercial mortgages
What is the aim of lending practise?
To promote fair lending
What is the Chartered Banker whistleblowing policy?
Speak Out
What is the protection for whistleblowers?
FCA:
- internal policy within bank
- report directly to the FCA
- annual reports to the FCA
- unfair dismissal laws
