RE 5 Topic 7 Quiz 3

Best Brokers found 5 employed representatives guilty of the offences as stipulated below. Against which of the employees must Best Brokers institute debarment proceedings?

i. Representative A: Unauthorised absence from work for a period of two weeks.

ii. Representative B: The representative did not pass the RE5 within the prescribed period.

iii. Representative C: Falsifying the record of advice in three separate incidents.

iv. Representative E: Prosecuted for theft of a laptop computer and cell phone belonging to Brother Brokers.

Which one of the following statements with regard to debarment and the debarment process is incorrect?

Brother Brokers issued a debarment hearing notification to one of their representatives. The representative resigned the same day. Which one of the following statements in this regard is correct?

What action must be taken if the person initiating a debarment hearing against a representative is perceived as bias in terms of guidance notes issued by FSCA?

Which of the following must accompany Part II of the debarment notification form to be submitted to FSCA in the event of debarment of a representative by an FSP?

i. Al documentary evidence and information supporting the grounds/reasons for debarment.

ii. A copy of the employment contract or mandate between the FSP and the debarred representative.

iii. A copy of the transcript/minutes and outcome of the debarment hearing.

iv. Forensic/investigation report and any other relevant documents