Knowledge Base

← Ethics, Compliance, and Ethical Organization of Institutions

Questions

What is the minimum number of annual outsourced monitoring days required for a firm managing less than €200 million according to Position DOC-2014-06?

10 days
15 days
18 days
20 days

What is the hierarchical position of the Compliance Officer (RCCI) according to Article 22 of Delegated Regulation 2017/565?

To the Chief Executive Officer
To the Chairman of the Board of Directors
To a director without operational responsibilities
To the risk management department

What is a key source of information for the compliance function according to the text?

Internal audit reports
Client complaints
Staff performance evaluations
Market analyses

What condition must be met for a firm to have a staff member dedicated at least half-time to compliance?

Managing more than €50 million for a retail client base
Managing more than €100 million for a professional client base
Managing more than €500 million for a retail client base or €1 billion for a professional client base
Managing more than €1 billion regardless of the client base

The compliance function may receive instructions from other operational functions regarding its activities.

True
False

Minimum frequency of compliance reports

Click to see answer

Categorize items by dragging them to the appropriate zones

Items to categorize:

Document instances where senior management deviates from compliance recommendations
Manage operational risks
Verify the effective implementation of internal policies
Conduct internal audits
Categories:

Compliance function obligations

Not relevant to the compliance function

Continuous monitoring through automated systems can entirely replace on-site inspections according to the text.

True
False