Qatar Financial Markets Authority Regulations – Quiz 09

Last Updated: June 2024

Table of Contents

CISI – Qatar Financial Markets Authority Regulations Quiz 9 is covered –
ELEMENT 5
MANAGING THE RISK OF FINANCIAL CRIME:
Anti-Money Laundering and Combating Terrorist Financing Rules 2010 -(1-9)
Anti-Money Laundering and Combating Terrorist Financing Rules 2010 – Understand the risks to a firm posed by its customers, products and business model
Anti-Money Laundering and Combating Terrorist Financing Rules 2010 – Know the key AML/CFT principles
Anti-Money Laundering and Combating Terrorist Financing Rules 2010 – Know how effective AML/CFT policies are developed, implemented and reviewed
Anti-Money Laundering and Combating Terrorist Financing Rules 2010 – Know the purpose and key elements of a AML/CFT training programme
Anti-Money Laundering and Combating Terrorist Financing Rules 2010 – Understand the responsibilities of Senior Management with respect to AML/CFT
Anti-Money Laundering and Combating Terrorist Financing Rules 2010 – Understand the role of the MLRO and deputy MLRO
Anti-Money Laundering and Combating Terrorist Financing Rules 2010 – Know the AML/CFT reporting requirements
Anti-Money Laundering and Combating Terrorist Financing Rules 2010 – Know the AML/CFT record keeping requirements

ELEMENT 6
BUSINESS DEVELOPMENT:
Branches and Agents of a Company -(10-17)
Branches and Agents of a Company – Know the conditions which must be satisfied in order to establish one or more branches
Branches and Agents of a Company – Know which activities can be performed by Agents subject to QFMA approval
Branches and Agents of a Company – Know the restriction placed upon Agents to avoid conflicts of interest
Branches and Agents of a Company – Know the conditions that must be satisfied by the Agent in order to be in regulatory compliance
Branches and Agents of a Company – Know who is responsible for fees payable for Agents and the procedure for application renewal

Custodians – (18-27 )
Custodians – Know the activities QFMA considers to constitute custody services
Custodians – Know the technical resource requirements incumbent upon companies providing custody services
Custodians – Know the stipulations that must be included in the Custodian’s written contract
Custodians – Know the client reporting requirements for Custodians

Outsourcing – (28-30)
Outsourcing – Understand the regulatory implications of outsourcing (Article 20) (AML/CFT 2.1.7) and the procedure for requesting regulatory approval
Outsourcing – Know the supporting evidence that must be commissioned by senior management prior to entering into a significant outsourcing arrangement (Article 22 (1)) • Feasibility study (a) • Risk evaluation (b) • Business Impact evaluation (c) • Costs (d) • Selection criteria (e)
Outsourcing – Know which information must be evidenced with respect to the service provider (Article 22 (2)) • Service provider’s regulatory status (a) • Regulatory status of commissioned services (b) • Risks of non –availability due to overload(c) • Financial stability and experience (d) • Conflicts of interest (e)
Outsourcing – Know the explicit provisions to be included in the contract between the Company and the service provider (Article 23) • Information for QFMA (1) • The specific conditions (2)
Outsourcing – Know the emergency contingencies a Company must prepare for in respect of the failure of its service provider

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