In relation to data protection, to whom does a firm's Data Input Officer report?
- The Information Commissioner
- The Chief Compliance Officer
- The firm's Data Controller -
✔✔
The firm's Data Controller
Who is allowed to make mass detriment reference?
- FCA
- HMT designated consumer body
- FSCS
- FOS and Authorized firms -
✔✔
FOS and Authorized firms
FOS and Authorized firms can make mass detriment references to the FCA where it appears there have
been regular failures to comply w/ reg req. The FCA must publish response in 90 days. HMT designated
bodies, e.g. Citizen's Advice Bureau, can make super complaints.
Which need to be approved?
- Working in compliance
- Supervising other employees
- Recruitment and training
- Non-exec director -
✔✔
Non-exec directorship
Non exec = governing function and therefore requires approval.
Working in compliance is not necessarily a controlled function unless it is an oversight function. Only
individuals supervising approved persons would need to be approved themselves.
A firm providing services in which of the following investments would not qualify for MiFID status?
- Transferable securities
- Units in CIS
- Instruments of payment
- Units in umbrella fund -
✔✔
Instruments of payment
