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Record Keeping Comply with regulated record keeping requirements
An FSP must keep its internal compliance reports and audit records. This is chiefly important to evidence:
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) The marketing performance of the FSP's campaigns.
- b) The personal net worth of the FSP's directors.
- c) Its ongoing adherence to the Fit and Proper and FAIS requirements, available for regulatory review.Correct
- d) The product supplier's internal profit margins.
Why this is the answer
Compliance reports and audit records evidence the FSP's ongoing adherence to fit-and-proper and FAIS requirements for regulatory review. They are not about directors' net worth, marketing performance, or supplier margins.
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