Ica Compliance Practice Test & Exam Prep | United Kingdom

Under the Financial Services and Markets Act 2000 (FSMA), what is the 'General Prohibition' defined in Section 19?

No person may carry on a regulated activity in the UK unless they are authorised or exempt No firm may pay financial bonuses exceeding statutory percentage caps No financial institution may operate without holding minimum tier 1 equity capital No individual may hold a senior executive role without a university degree

Correct Answer:

No person may carry on a regulated activity in the UK unless they are authorised or exempt

Access more questions from this quiz

Continue to Ica Compliance Practice Test & Exam Prep | United Kingdom for more practice questions and the full quiz experience.

Access More Questions