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8 Cards in this Set
- Front
- Back
- 3rd side (hint)
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What is the FCAs Operational Objective? |
To secure an appropriate degree of protection for consumers. |
Chapter 1 2.1 |
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Appeals against FCA decisions are normally considered by which body? |
The Upper Tribunal |
Chapter 1 6.7 |
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What are the three operational objectives of the FCA under the Financial Services Act 2012? |
1. Securing an appropriate degree of protection for consumers 2. Protecting and enhancing the integrity of UK financial system 3. Promoting effective competition within markets for financial services |
Chapter 1 2.1 |
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The 'Management and Control' Principle for Business requires firms to have adequate systems in place specifically relating to? |
Principle 3 requires risk management systems |
Chapter 1 3.1 |
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Whom must be DIRECTLY authorised under FSMA to carry on regulated activities? |
Hedge Fund Managers. |
Chapter 2 1.1 |
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Name one excluded activity that does not require authorisation under FSMA? |
Dealing as principal in connection with an employee share scheme. |
Chapter 2 1.3.1 |
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Name one specified investment under the Regulated Activities Order.
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OIEC Shares |
Chapter 2 1.2.1 |
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In order to satisfy the suitability threshold conditions for authorisation, firms are specifically required to... |
...prove that they are fit and proper. This is to be granted part 4A permission, namely that their affairs will be conducted soundly and prudently. |
Chapter 2 3.3.2 |
