All RE5 questions
Regulatory Bodies Twin Peaks Financial Stability
A newly appointed compliance officer lists the powers of the Financial Sector Conduct Authority. Which item does NOT belong on her list?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) Imposing administrative penalties for FAIS contraventions
- b) Granting, suspending and withdrawing FSP licences
- c) Debarring a person from the financial sector
- d) Setting the capital requirements banks must holdCorrect
Why this is the answer
Capital requirements for banks are prudential and belong to the Prudential Authority. The FSCA licenses FSPs under FAIS and may suspend or withdraw licences, may debar persons under the Financial Sector Regulation Act, and may impose administrative penalties.
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