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Essential Strategies for Financial Services Compliance, 2nd Edition
book

Essential Strategies for Financial Services Compliance, 2nd Edition

by Annie Mills, Peter Haines
November 2015
Beginner content levelBeginner
400 pages
11h 51m
English
Wiley
Content preview from Essential Strategies for Financial Services Compliance, 2nd Edition

Appendix CCompliance in the Front Office

This appendix briefly describes the activities of four typical Front Office departments before going on to look at some of the main regulatory requirements that are of relevance to them. Note that where a requirement is shown as being relevant to a particular department, this may not be true in relation to everything that they do, depending on the exact nature of the product and/or service involved. Also note that the use of the terms ‘Client’, ‘Customer’ and ‘Eligible Counterparty’ in this section follows their FCA definitions.

Topic
Customer sales and trading 222
Investment management (asset management, portfolio management) 223
Corporate finance and investment banking 223
Research 223
Business and regulatory approvals 224
Relationship with Compliance department 225
Client's best interest rule 225
Provision of information about the firm 226
Client agreements 228
Best execution 229
Prompt execution 232
Client limit orders 233
Suitability 233
Appropriateness (for non-advised services) 234
Churning and switching 236
Aggregation and allocation 237
Order and execution records 238
Training and competence (‘T&C’) 238
Approved Persons rules 240
Inducements 241
Voice recording 241
Communicating with clients (fair, clear and not misleading communications) 242
Financial promotions 243
Client categorization 244
KYC 245
Anti-money laundering (AML) and counter-terrorist financing (‘CTF’) controls 246
Reporting suspicions ...
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Publisher Resources

ISBN: 9781118906132Purchase book