Qatar Financial Markets Authority Regulations – Quiz 10

Last Updated: June 2024

Table of Contents

CISI – Qatar Financial Markets Authority Regulations Quiz 10 is covered –
ELEMENT 6
BUSINESS DEVELOPMENT:
Outsourcing – (1)
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

International expansion – (2-6)
International expansion – Understand what regulations apply to a company with international branches and subsidiaries • Contractual agreements between regulators • Home/Host
International expansion – Understand the challenge of conducting business while meeting the regulatory expectations and approach of multiple regulatory bodies • International • Domestic

Suspension, Modification and Cancellation of the licence – (7-30 )
Suspension, Modification and Cancellation of the licence – Know the procedure for cessation of a licensed activity
Suspension, Modification and Cancellation of the licence – Understand how application to cease a licensed activity impacts on the company’s dealing activities
Suspension, Modification and Cancellation of the licence – Know the scope of the disciplinary regime (Article 67 (1)) • Circumstances in which action may occur • Range of disciplinary sanctions • Draft and final disciplinary decisions • Company comment • Enforcement period
Suspension, Modification and Cancellation of the licence – Know the period in which a final QFMA disciplinary notice becomes enforceable
Suspension, Modification and Cancellation of the licence – Know the requirements pertaining to those companies that voluntarily cease, suspend, modify or cancel the practice of licensed activities

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