compliance & risk Flashcards
(12 cards)
1
Q
what are the lines of defence?
A
advisers and ops risk are first line of defence
2
Q
how do you calculate compensation?
A
financial loss + material distress and inconvenience = compensation
3
Q
what is personal data
A
information related to an identifiable living individual
4
Q
GDPR
A
general data protection regulation
5
Q
PECR
A
privacy and electronic communication regulation
6
Q
fines from Information Commission Office
A
17.5m or 4% of global turnover
7
Q
special category data
A
religion politics ethnicity
8
Q
max penalty for Fraud offences?
A
10 years in prison
9
Q
three classes of fraud?
A
fraud by false representation
fraud by failing to disclose information
fraud by abuse of position
10
Q
3 FCA objectives
A
- Protecting customers
- enhancing market integrity
- promoting competition
11
Q
W8Ben E form
A
is for corporate accounts and trusts
12
Q
A
