Collective Investment Scheme Administration Exam – Quiz 05

Last Updated: June 2024

Table of Contents

CISI Exam Quiz 05 Topics Covers:

know the requirements of the Clients’ Assets Rules (CASS) relating to AFMs
know the requirements of The Proceeds of Crime Act 2002, The Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017, The Criminal Finance Act 2017 and The Joint Money Laundering Steering Group guidance as they apply
be able to apply the money laundering requirements for new and existing clients
know what is satisfactory evidence and when it is required understand the importance of verification
be able to apply the actions required if inadequate evidence is provided
understand the importance of being able to recognise a suspicious transaction and the procedures for reporting it
understand the role of the FCA and other crime prevention agencies in relation to money laundering and financial crime prevention
know the requirements firms and individuals need to meet in relation to money laundering and financial crime prevention and the implications of not meeting the requirements
Undertakings of Collective Investment in Transferable Securities Directive (UCITS)
Markets in Financial Instruments Directive (MiFID)
Capital Requirements Directive (CRD)
Distance Marketing Directive (DMD)
Market Abuse Regulation (MAR)
Alternative Investment Fund Managers’ Directive (AIFMD)
European Market Infrastructure Regulation (EMIR)
The EU Money Market Fund Regulation (MMFR)
know the outcomes arising from the FCA’s approach to managing good conduct within firms including treating customers fairly (TCF)
know the expectations of the FCA in respective of consumer duty with particular focus on Collective Investment Schemes (CIS)
know the regulatory procedures for handling customer complaints
know the role of the Financial Ombudsman Service
understand the circumstances under which the Financial Services Compensation Scheme pays compensation and know the compensation payable
know the circumstances under which cancellation rights are available to investors
be able to calculate cancellation proceeds including shortfall when applicable
understand the investor protection provided by the CASS sourcebook
understand the rights of unit / shareholders in relation to changes to the fund and the protection afforded by meetings
know that a unit / shareholder can appoint a proxy to vote on their behalf
know the circumstances under which the manager may suspend dealing in the fund
know the constitutional structures of authorised Collective Investment Schemes
understand the process and requirements of authorisation

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