Podcast
Questions and Answers
Why is it crucial for a compliance officer to be free from conflicts of interest?
Why is it crucial for a compliance officer to be free from conflicts of interest?
- To maximize profits for the company
- To reduce job satisfaction for the compliance officer
- To ensure accurate reporting of non-compliance and irregularities (correct)
- To increase the workload of the compliance officer
In which section of the FAIS Act are the definitions provided?
In which section of the FAIS Act are the definitions provided?
- Section 36
- Section 1 (correct)
- Section 100
- Section 14
Which activity will a compliance officer struggle to perform if a conflict of interest exists?
Which activity will a compliance officer struggle to perform if a conflict of interest exists?
- Ensuring maximum profitability for the company
- Identifying instances of non-compliance (correct)
- Avoiding communication with regulators
- Promoting a conflict of interest culture within the organization
What is the definition of 'direct marketing' as provided in the General Code extracts?
What is the definition of 'direct marketing' as provided in the General Code extracts?
Which activity does the FAIS Act primarily focus on in Section 14?
Which activity does the FAIS Act primarily focus on in Section 14?
Why does the FAIS Act exclude publication of an advertisement from its definition of 'direct marketing'?
Why does the FAIS Act exclude publication of an advertisement from its definition of 'direct marketing'?
What is a key responsibility of a Financial Service Provider according to the text?
What is a key responsibility of a Financial Service Provider according to the text?
Who is responsible for ensuring compliance within the Financial Service Provider?
Who is responsible for ensuring compliance within the Financial Service Provider?
Which role-player provides the Financial Product to the Financial Services Provider?
Which role-player provides the Financial Product to the Financial Services Provider?
What is the primary duty of a Financial Services Provider regarding technological systems?
What is the primary duty of a Financial Services Provider regarding technological systems?
What is the key function of a Compliance Officer within a Financial Service Provider?
What is the key function of a Compliance Officer within a Financial Service Provider?
What is the main obligation of a Financial Service Provider toward their representatives?
What is the main obligation of a Financial Service Provider toward their representatives?
What is the primary responsibility of the FSP and key individuals regarding the compliance officer?
What is the primary responsibility of the FSP and key individuals regarding the compliance officer?
Which of the following is a requirement for the compliance officer according to the general code?
Which of the following is a requirement for the compliance officer according to the general code?
What is one of the duties of the compliance officer regarding reporting to the FSCA?
What is one of the duties of the compliance officer regarding reporting to the FSCA?
What must the compliance officer do regarding non-compliance incidents?
What must the compliance officer do regarding non-compliance incidents?
What is required of the compliance function according to the legislation?
What is required of the compliance function according to the legislation?
Under what condition can the FSP outsource the compliance function?
Under what condition can the FSP outsource the compliance function?
