сұрақ  |
жауап |
Common Platform Firm is a subject to either the MiFID or...? оқуды бастаңыз
|
|
Capital Requirements Directive (CRD).
|
|
|
If a conflict arises, and it cannot be managed, the conflict of interest must be disclosed to the client before... (narrative) оқуды бастаңыз
|
|
... undertaking business for the client - let the client decide if they wish to continue.
|
|
|
What are the Chinese walls? оқуды бастаңыз
|
|
important: Arrangements whereby information held by an employee in one part of the business is withheld from the people in another part of the business, in order to manage any potential conflicts of interest
|
|
|
If a firm establishes and maintains an Information Barrier’ it must withhold the information, business but only to the extent that... (narrative) оқуды бастаңыз
|
|
... at least one of those parts of the business is carrying on regulated activities.
|
|
|
The disclosure of conflicts of interest should not exempt firms from the obligation to maintain effective organisational arrangements under... оқуды бастаңыз
|
|
... SYSC 10: Conflict of interest
|
|
|
Conflicts of Interest Policies should cover control of Information to prevent... оқуды бастаңыз
|
|
the exchange of information which may harm the interest of clients. also: Separate supervision of persons who are engaged in activities for different clients. | Removal of any direct link between remuneration of conflict-prone individuals. | Measures to prevent influence. | Measures to control individual’s involvement
|
|
|
Investment recommendations are captured under... (regulation) short-term trade ideas or trading strategies оқуды бастаңыз
|
|
Market Abuse Regulation (MAR)
|
|
|
Investment research has to be clearly labelled in such way that it isn't constitute... оқуды бастаңыз
|
|
... a personal recommendation to a client.
|
|
|
UK MAR arrangements essence: оқуды бастаңыз
|
|
Investment firms must have internal arrangements to prevent dealing ahead. Analysts who know the timing or content of unpublished investment research must not conduct personal transactions or trade for others.
|
|
|
A firm does not have to comply with the MAR rules on conflict of interest, if is disseminating investment research on behalf of... Market Abuse Regulation оқуды бастаңыз
|
|
so long as: That person is not in the same group as the firm. | The firm does not substantially amend the research | the firm does not hold itself out as having produced the research.
|
|
|
A firm does not have to comply with the MAR rules on conflict of interest, if is disseminating investment research on behalf of another person, so long as... Market Abuse Regulation оқуды бастаңыз
|
|
... that person is not in the same group as the firm and the rules of COBS 4 apply. The firm does not substantially amend the research | the firm does not hold itself out as having produced the research.
|
|
|
The MAR rules are different if a firm produces non-independent research, which is not presented as objective or independent, and is considered as marketing communication. In this case, research is treated as a...? оқуды бастаңыз
|
|
It must contain a clear and prominent statement it has not been prepared as independent, investment research.
|
|
|
The MAR rules if a firm produces non-independent research, which is not presented as objective or independent, and is considered as marketing communication. In this case, research is treated as a financial promotion, under rules of...? (sourcebook name & no.) оқуды бастаңыз
|
|
COBS 4: Communicating with clients, including financial promotions
|
|
|
Firms which disseminate research recommendations have to comply with detailed standards in relation to the presentation and disclosure of certain information. It must ensure that a research recommendation is presented __? оқуды бастаңыз
|
|
disclose the firm’s interests, | facts are clearly distinguished from interpretation, estimates and opinion
|
|
|
Fair presentation requires that... оқуды бастаңыз
|
|
... material sources are indicated, also: basis of valuation, | the meaning of buy, sell, and hold, | any substantive difference between this and a research recommendation issued during the previous 12 months
|
|
|
Research Recommendation. Standards for disclosure of interests and conflicts of interest are relationships of... оқуды бастаңыз
|
|
relationships f legal and natural persons within the firm who were involved in the preparation of the research recommendation/ also: all relationships that may impair the objectivity, | disclosures concerning a firm’s shareholdings in excess of 5%
|
|
|
Research Recommendation. The standards for disclosure of interests and conflicts of interest must disclosures concerning a firm’s - or affiliated company - shareholdings in excess of... оқуды бастаңыз
|
|
|
|
|
How often must a firm disclose the proportion of its Research Recommendations that are buy, hold, and sell recommendations? оқуды бастаңыз
|
|
both quarterly, but the buy, hold, and sell recommendations covers the 3 months, | whereas proportion of investment related material investment banking services covers 12 months.
|
|
|
If a firm disseminates research recommendations produced by a third party, it must state... оқуды бастаңыз
|
|
... the identity of the firm and its regulator. Detailed disclosures are made as though a firm had produced the recommendation itself. | Elaborate any materially amends.
|
|
|
A financial instrument is classed as 'non-complex' if, | it is not a derivative, | has sufficient liquidity, | it does not involve liability for the client and... оқуды бастаңыз
|
|
... it is publicly available.
|
|
|
