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FAIS Act FAIS Act and Subordinate Legislation
Which of the following is within the FSCA's regulatory powers over FSPs?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) Conducting on-site inspections and investigations, and taking enforcement action against non-compliant FSPs.Correct
- b) Setting the daily share prices on the stock exchange.
- c) Guaranteeing investment returns to all clients.
- d) Running the FSPs’ marketing campaigns for them.
Why this is the answer
As the conduct regulator, the FSCA can inspect, investigate and enforce against FSPs that breach the rules. It does not set market prices, guarantee returns, or run firms' marketing.
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