ApEx10. Overseeing on a day-to-day basis safeguarding and administering investments or holding of client money

Transcription

1 ApEx10 Overseeig o a day-to-day basis safeguardig ad admiisterig ivestmets or holdig of cliet moey

2 Summary of Learig Outcomes ApEx10 OVERSEEING ON A DAY TO DAY BASIS SAFEGUARDNG AND ADMINISTERING INVESTMENTS OR HOLDING OF CLIENT MONEY Level

3 Cadidates will be expected to: K Demostrate a kowledge of: K1 Kow Your Customer Kowledge K2 ivestmet products ad services Kowledge K3 tax cosideratios Kowledge K4 otificatios ad terms ad coditios Kowledge K5 the typical cotet of cliet agreemets Kowledge K6 custody requiremets Kowledge U Demostrate a uderstadig of: U1. defiitio of cliet moey ad rules applicable to cliet moey accouts Comprehesio U2. fraud prevetio ad ati moey lauderig Comprehesio U3. how the relevat coduct of busiess ad cliet asset rules are applied i practice Comprehesio U4. settlemet processes Comprehesio U5. how corporate actios are applied o cliet assets/ securities Comprehesio

4 Idicative Cotet for each Learig Outcome ApEx10 OVERSEEING ON A DAY TO DAY BASIS SAFEGUARDNG AND ADMINISTERING INVESTMENTS OR HOLDING OF CLIENT MONEY Attaimet Outcome Idicative Cotet Level K Demostrate kowledge of: K1 Kow Your Customer K1.1 Type of cliet (e.g. private, itermediate), service provided ad type of cliet moey K1.2 Rules that apply to record keepig, charges, commissios ad recociliatios

5 K2 Ivestmet products ad services K3 Tax cosideratios K4 Notificatios ad terms ad coditios K5 The typical cotet of cliet agreemets K6 Custody requiremets U Demostrate uderstadig of: U1 Defiitio of cliet moey ad rules applicable to cliet moey accouts K2.1 Types of ivestmet, pesio, beefit ad cash product available to customers K2. 2 Collective ivestmet schemes; istitutioal/segregated accouts K2.3 Types ad key features of services available to customers K2.4 Product cycle ad occasios whe the safeguardig of customer assets is required K3.1 Hadlig of divideds ad iterest (tax ad tax credits ad the differeces) K3.2 Tax treatmet of icome from overseas / off shore cliet ivestmets K3.3 Gilts K3.4 Reportig requiremets, icludig uder sectios 17 ad 18 of the Europea Savigs Directive K4.1 Kow what must be commuicated to cliet as specified by Fiacial Services Authority rules K5.1 The purpose of cliet agreemets; the differet types of agreemet depedig o the service ad the mai clauses that impact o the admiistratio of the cliet accout K5.2 Cliet moey regulatios regardig segregatio of moey K5.3 Eforceability of the cotract K5.4 Iterest calculatios K5.5 Custody arragemets K5.6 Cotractual obligatios K5.7 Cliet reportig requiremets K5.8 The arragemets for chagig the agreemet K7.1 Cliet asset rules K7.2 Settig up ad maitaiig cliet bak accouts K7.3 Periodic statemets K7.4 Breach reportig U1.1 Defiitio ad how a accout is set up U1.2 Accoutig records U1.3 Rules ad applicatios: what applies, how ad whe it applies U1.4 Iterest recociliatio U1.5 Segregatio rules U1.6 Daily calculatios U1.7 Breach reportig

6 U2 Fraud prevetio ad ati moey lauderig U3 How the relevat coduct of busiess ad cliet asset rules are applied i practice U4 Settlemet processes U5 How corporate actios are applied o cliet assets/ securities U2.1 Defiitio of moey lauderig; differece betwee moey lauderig ad fraud U2.2 Exemptios limits ad types of trasactio U2.3 Triggers: what amout triggers what actio U2.4 Practical protectio ad prevetio U2.5 Protectio rules U2.6 Firm vs. idividual resposibilities U2.7 Key provisios of curret legislatio U2.8 Suspicious trasactios U2.9 Traiig ad moitorig U2.10 Crimial fudig U2.11 Addressig ad prevetig fraud U3.1 Requiremets for commuicatio with cliets /cliet reportig U3.2 Purpose ad cotet of Key Features Documets (KFD) U3.3 Use of cliet agreemets U3.4 Custody rules U3.5 Cliet asset rules U3.6 Safeguardig/admiisterig physical assets, icludig: makig up shortfalls; set off U3.7 Cliet protectio segregatio of cliet assets U3.8 Cliet compesatio whe compesatio applies ad how it is calculated U4.1 Trasfer mechaisms BACS, CREST ad other settlemet systems U4.2 What protectio is available ad whe it ca be removed U4.3 Issues raised by chages to ivestmets ad how they are dealt with U5.1 Defiitio of a corporate actio data collectio ad scrubbig; commo madatory evets; commo volutary evets; processig risks