Industry Regulation

callum.thomson
Flashcards by callum.thomson, updated more than 1 year ago
callum.thomson
Created by callum.thomson almost 7 years ago
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Financial Services Regulation, Money Laundering, Insider Dealing & Market Abuse and Corporate Governance

Resource summary

Question Answer
4 main offences of Money Laundering are concealing arrangements acquisition, use and possession tipping off
Money Laundering Regulations places 3 main requirements on firms Identification Procedures Train their staff Establish internal controls
3 stages of money laundering are Placement Layering Integration
3 x Client identity procedures are customer due diligence enhanced due diligence simplified due diligence
Inside information is information that relates to a particular security and which is: specific not made public yet if it were public it would affect the share price
Insider dealing occurs when an insider acquires or disposes of stock or encourages another to, following receipt of price sensitive information before it is publicly known
There are 7 types of Market Abuse Insider dealing Improper disclosure Misuse of information Manipulating transactions Manipulating devices Dissemination Distortion & misleading behaviour
Corporate Governance is the mechanism by which the long term interests of shareholders is protected
OECD Principles of Corporate Governance are Ensuring the basis for an effective corporate governance framework The rights of shareholders The equitable treatment of shareholders The role of stakeholders Disclosure & transparency The responsibilities of the board
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