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start learning
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a paper or any instrument which enables the recipient to store information addressed personally to them in a way accessible for future reference.
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Firms must enter into a written basic agreement with the client, which as to be on paper or other __ __? start learning
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Client agreement records must be maintained for whichever is the longer of: start learning
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5 years. | Client relationship duration. | Pension opt-out*. *in the case of a pension transfer.
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The Requirement to Provide a Client Agreement - it applies to designated investment business for a retail client and for MiFID business and ancillary services or ___? start learning
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... or equivalent third-country business for a retail or a professional client.
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What is an execution venue? start learning
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The entity with which client orders, assets or securities are placed or to which the Company transmits Client’s orders for execution. a stock exchange | a regulatet market | an OTF (Organised Trading Facility)
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Information Requirements about the Firm provided prior to providing services. A firm must provide retail clients, professional clients and __? start learning
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for example: For MiFID business the languages in which the client may communicate. | Methods of communication. Z Statement of the fact. | Conflict of interest policy. | Ff the firm is acting through an appointed representative. | Reports nature and frequency.
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Information Requirements Relating to Managing Investment. If a firm proposes to manage investments for a retail client, it must provide information for example about...? other examples: start learning
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... the valuation method of the investments in the client’s portfolio. Any delegation of the discretionary management details. |Performance benchmark. |Types of investment. | Types of transaction. | Limits. | Objectives. | Level of risk.
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Firms holding client money or investments for retail clients, professional clients and ECPs also have to provide information about for example...? other examples: start learning
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... that the investments/money may be held by a third-party on the firm’s behalf. What will happen if the third-party were to become insolvent. | The firm’s responsibility for any omissions of that third-party. | Jurisdiction. | W/hat the risks may be. | A summary of the steps the firm has taken to protect the client’s money.
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Firms must provide retail clients with information on the costs and charges in respect of services, including __ services? start learning
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Disclosure of Costs related to services provided to retail clients. Relevant cost are, for example...? *including all related fees, costs, charges and expenses and any taxes payable via the firm, which must be itemised separately in every case. start learning
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the total price to be paid*. also: currency | further costs in future. | How to pay. | Compensation schemes information.
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Disclosure of Costs. Providing the details on the costs and charges is not no regulatory obligation to in case of __ __? 2 start learning
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of ECPs | and professional clients. this would be a commercial decision.
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Client information should be provided in good time before the provision of services. The firm may, however, provide the information immediately after the provision of services if...? start learning
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... the agreement was concluded using a means of distance communication. on durable medium or a website (if made via website).
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Compensation Information. A firm which carries on __ business must provide the information of the compensation scheme. start learning
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This must include the amount and scope of the cover offered by the compensation scheme.
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