12103797
Description
Mind Map by MARTHA MADRIZ, updated more than 1 year ago
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Created by MARTHA MADRIZ
over 6 years ago
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Consumer
Protection Code
Obligations
- Central Bank
- Obligations
- Product Design
- key characteristics
- Target Market of consumers
- The profile of the
group of consumers
at which the
regulated entity
aims a particular
investment product
- The profile of the
group of consumers
at which the
regulated entity
aims a particular
investment product
- Nature and Extent of the Risks
- level, nature, extent, and
limitations of any
guarantee and name of guarantor
- key characteristics
- Product Launch
- update product
information
- at least annually
- Provide update to
Intermediaries
- provide ongoing facilities to
appointed intermediaries to
facilitate inquiry/info on
investment product
- provide ongoing facilities to
appointed intermediaries to
facilitate inquiry/info on
investment product
- at least annually
- update product
information
- PRODUCT
PRODUCERS
- ALL Investments products
- ALL Investments products
- Product Design
- Obligations
- N/A DEPOSIT
- N/A Life Assurance Policy
- N/A Life Assurance Policy
- FITNESS & PROBITY
- CENTRAL BANK
- imposed sanctions
- imposed sanctions
- Fitness & PROBITY Standards code
- Specify standards that ALL-
CONTROL FUNCTIONS CFs
must comply
- CFs
- Advised to Consumer on
Retail Financial Products
- must have qualifications and
Experience
- Competence and Capacity
appropriate to relevant function
- Demonstrate ability to perform CF role is
not adversely affected to a material
degree
- is or was a sole
trader or a
director partner
in a firm
- Refused
- Prohibited
- Suspended
- Authorisation Revoked
- Right to
carry on any
trade,
business,
profession in
any
jurisdicction
- Refused
- is or was a sole
trader or a
director partner
in a firm
- must have qualifications and
Experience
- CF-2
- CF-3
- CF-4
- CF-5
- CF-6
- CF-7
- Involve the person acting in the direct management or Supervision of
those persons who act for the firm in roles CF-3, CF4, CF5 OR CF6
- CF-8
- Involve the person adjudicating on any complaint by a customer of
the firm in relation to the provision of a financial service, e.g.
Manager in charge of handling and deciding customers complaints
- Involve the person adjudicating on any complaint by a customer of
the firm in relation to the provision of a financial service, e.g.
Manager in charge of handling and deciding customers complaints
- Involve the person acting in the direct management or Supervision of
those persons who act for the firm in roles CF-3, CF4, CF5 OR CF6
- Involve the person determining the outcome of a claim
arising under a contract of insurance or reinsurance
- CF-7
- Involved the person assisting the customer in the making of
a claim under a contract of insurance or reinsurance
- CF-6
- Involved the person arranging, or offering to
arrange, a financial service for a consumer. e.g
Personal Financial Adviser
- CF-5
- involved the person the person
given financial advice e.g
Financial Adviser
- CF-4
- Ensuring, controlling or
monitoring compliance eg.
Compliance Manager
- CF-3
- PRE-APPROVAL CFs
- PCFs
- Requires WRITTEN APPROVAL
- CENTRAL BANK
- CENTRAL BANK
- DIRECTORS
- Chairs of the Board
- Chielf
Excecutive
- Head of Compliance
- Head of Retail
Sales
- Head of Retail
Sales
- Head of Compliance
- Chielf
Excecutive
- Chairs of the Board
- Head of Actuarial Function
- Requires WRITTEN APPROVAL
- PCFs
- Advised to Consumer on
Retail Financial Products
- ONGOING Obligation
- CFs
- FITNESS
- BE competent and Capable
- BE competent and Capable
- PROBITY
- BE Honest, ethical and
Act with integrity
- BE Financial Sound
- BE Honest, ethical and
Act with integrity
- Specify standards that ALL-
CONTROL FUNCTIONS CFs
must comply
- CENTRAL BANK
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