Financial Markets Conduct Act

Question 1

The introduction of the _____________________ (the FMC Act) affected the financial reporting obligations of many companies and entities involved in creating, promoting, selling or trading financial products.

Answer 1

Financial Markets Conduct Act 2013

Question 2

The introduction of the Financial Markets Conduct Act 2013 (the ____________) affected the financial reporting obligations of many companies and entities involved in creating, promoting, selling or trading financial products.

Answer 2

the FMC Act

Question 3

The introduction of the Financial Markets Conduct Act 2013 (the FMC Act) affected the financial reporting obligations of many companies and entities involved in creating, promoting, selling or trading ___________________.

Answer 3

financial products

Question 4

All _______________ must prepare their financial statements in line with the requirements in Part 7 of the FMC Act.

Answer 4

FMC reporting entities

Question 5

All FMC reporting entities must prepare their _______________ in line with the requirements in Part 7 of the FMC Act. All FMC reporting entities must prepare their financial statements in line with the requirements in Part 7 of the FMC Act.

Answer 5

financial statements

Question 6

All FMC reporting entities must prepare their financial statements in line with the requirements in __________ of the FMC Act.

Answer 6

Part 7

Question 7

All FMC reporting entities must prepare their financial statements in line with the requirements in Part 7 of the _____________.

Answer 7

FMC Act

Question 8

Under _________________ of the Financial Markets Conduct Act (2013), FMC Reporting Entity includes (i) ‘every credit union’ and (j) ‘every building society’.

Answer 8

Part 7, section 451

Question 9

Under Part 7, section 451 of the ________________________, FMC Reporting Entity includes (i) ‘every credit union’ and (j) ‘every building society’.

Answer 9

Financial Markets Conduct Act (2013)

Question 10

Under Part 7, section 451 of the Financial Markets Conduct Act (2013), _________________includes (i) ‘every credit union’ and (j) ‘every building society’.

Answer 10

FMC Reporting Entity

Question 11

Under Part 7, section 451 of the Financial Markets Conduct Act (2013), FMC Reporting Entity includes (i) __________________ and (j) ‘every building society’.

Answer 11

(i) ‘every credit union’

Question 12

Under Part 7, section 451 of the Financial Markets Conduct Act (2013), FMC Reporting Entity includes (i) ‘every credit union’ and (j) ___________________.

Answer 12

(j) ‘every building society’

Question 13

Under _______________ of the Financial Markets Conduct Act (2013), a company that issues equity securities is not an FMC Reporting entity if less than 50 shareholders.

Answer 13

section 452

Question 14

Under section 452 of the _____________________, a company that issues equity securities is not an FMC Reporting entity if less than 50 shareholders.

Answer 14

Financial Markets Conduct Act (2013)

Question 15

Under section 452 of the Financial Markets Conduct Act (2013), a _____________________ is not an FMC Reporting entity if less than 50 shareholders.

Answer 15

company that issues equity securities

Question 16

Under section 452 of the Financial Markets Conduct Act (2013), a company that issues equity securities is not an _________________ if less than 50 shareholders.

Answer 16

FMC Reporting entity

Question 17

Under section 452 of the Financial Markets Conduct Act (2013), a company that issues equity securities is not an FMC Reporting entity _____________________.

Answer 17

if less than 50 shareholders

Question 18

Under ___________________, every FMC reporting entity must ensure that, within 4 months after the balance date of the entity, financial statements that comply with generally accepted accounting practice are—
(a)
completed in relation to the entity and that balance date; and
(b)
dated and signed on behalf of the entity by 2 directors of the entity or, if the entity has only 1 director, by that director.

Answer 18

section 460 of the FMC Act 2013

Question 19

Under section 460 of the FMC Act 2013, every FMC reporting entity must ensure that, within 4 months after the balance date of the entity, ____________________________ are—
(a)
completed in relation to the entity and that balance date; and
(b)
dated and signed on behalf of the entity by 2 directors of the entity or, if the entity has only 1 director, by that director.

Answer 19

financial statements that comply with generally accepted accounting practice