Uk Financial Regulation Practice Questions | 175 Questions With 100% Correct Answers | Updated & Verified

Directions and Requirements {Ans: Provisions that Dictate - only binding to those whom it is addressed to}What does the firm send to the FCA when it wishes to change SMFs {Ans: Conversion Notification}What ( products) do appropriateness rules not apply to ? {Ans: • Shares on a regulated market ( or overseas equivilant) • Money market instruments • Holding in UCITS fund • Non complex product}How long should periodic statements be maintained ? {Ans: Mifid - 5 yrs Non Mifid - 3 yrs}When do rules on suitability apply for NON - MiFid business {Ans: • Retail Client • Managing assets of an occupational schemee}When is a firm required to inform client of any compensation schemes ? {Ans: Whenever a client regarding MiFid is or intends to use those services}