Wrong Answers Flashcards
FCA certification regime 2
Who apply to and what doe sit do
Applies to employees who can cause harm to firm
Ensure employee is competent to under certification function
Are ISAs a PRIIP
No
Example of ancillary service under mifid 2
Safekeeping of financial instruments for clients
When can a company offset trading losses 3
Income and gains in previous year, current year and profits from same trade in future years
General law on trust place what on trustees 2
Take Cary like any other prudent person
Give consideration to all beneficiaries
What legislation endows FCA with its statuary powers
Financial services and markets act 2000
What investment fund is not overseen by a trustee
Investment trust
Who is responsible for recognising overseas investment exchange
FCA
Who does PRIN apply to and what is said about breaches of prin
All authorised firms
Does not automatically lead to displinary measure
Can retail client ask to be treated as eligible counterpart y
No
Can per se professional client ask to be treated as retail client
Yes
Risk of fall in nominal value of investment is callee
Capital risk
If GDPR broken, when must firm notify ICO
72 hours
How long can losses on shares be carried forward
Indefinitely
What best describes equity isn terms of risk
High capital risk but low shortfall risk
What do pensions funds have highest allocation to usually
Equities
What are reasons for pension funds to close
Disclosure of schemes funding position in accounts
Increased longevity of members
Falling return on assets in scheme
