Q3 - basis for requiring a system of compliance What is the...

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Problem Set 3 1. Financial planning can be considered to be made up of four main phases, or stages. What do you think these are? Give a brief outline of each one. 2. Discuss the “Know your client” rule. What does this mean in practice? 3. Discuss the “Know your product” rule. What does this mean in practice? 4. What obligations of disclosure to clients do financial planners have? 5. What is meant by “compliance” in the financial planning industry? What is the
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Unformatted text preview: basis for requiring a system of compliance? What is the guiding principle in the formulation of compliance requirements? What are the main sources of legislation? 6. What are the two key components of quality advice? 7. Distinguish between when an adviser is offering general and personal advice. 8. Discuss the differences between the two types of written advice....
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