CISI - QFMA Rules & Regulations - QNB

 
 
Qatar Financial Market Authority (QFMA) Rules and Regulations
 
Course Description:   
The course provides guidance about the Licensing Conditions and Procedures along with rules of conducts addressing financial services in the State of Qatar.
 
Objectives:                    
The aim of this course is to enable professionals willing to conduct business within financial securities and market in the State of Qatar, to get knowledge about the rules and regulation and to pass the exam that license them as “Approved Person”.
 
Target Audience:        
All professionals working in securities’ industry i.e. brokers, advisors, compliances officers, investment managers, custodians, underwriters, and bankers.
 
Course Structure:
It is estimated that the workbook will require approximately 70 hours of study time.
The course will be around 30 hours in-class. The instructor will explain in details, lead discussions, and give exercises to cover all the material. The students will need to review and recap again the material for better results.
 
Course Facts
Duration:  5 Days (sessions) and each session is 6 hours.
 
Exam Particulars:
Number of questions: 50 questions, all multiple choices, and each question has four possible answers.
Pass score: 70%
Exam time: 1 hour
 
Content Highlights:

• Chapter 1: Licensing Conditions and Procedures
• Chapter 2: Conduct of Business
• Chapter 3: Information Requirements
• Chapter 4: Internal Controls
• Chapter 5: Managing the Risk of Financial Crime
• Chapter 6: Business Development

 
Program Outline:
                                                                                                                          
Day 1:
 

• Licensing Conditions and Procedures

1. Licensed Activities
2. Obtaining a Licence

2.1   Application Process
2.2   The impact of a Licence on Business Activity

1. Approved Persons
2. Regulated Functions

                4.1   General Conditions for Approved Persons
                4.2   Regulated Functions
                4.3 Anti-Money Laundering (AML) / Combating Financing of Terrorism (CFT) Screening Procedures

1. The Approval Process for Approved Persons
2. The International Regulatory Environment

                6.1   Rule-Based and Principles-Based Regulation
                6.2   Exchanges, Multilateral Trading Facilities and Systematic Internalisers
 

• Conduct of Business

1. Rules of Conduct

1.1 Specific Aspects of The Rules of Conduct
1.1.1  Conflicts of Interest
1.1.2  Regulatory Requirements
1.1.3  Risk Management
1.1.4  Solicitation

1. Client Relationships

2.1   Obligations
2.1.1  Obligations Relating to Client Relationships
2.1.2  Executing Client Orders
2.2   Fundamental Principles
2.3   Notifications to The Qatar Financial Markets  Authority (QFMA)
 
Day 2:
 

• Information Requirements

1. Reports and Records

1.1  Financial Statements and Annual Report
1.2  The Compliance Officer’s Report
1.3  Record-keeping – Company Activities
1.4  Suitable Person
1.5  Record-Keeping – Client Information
1.6  Complaints Register
1.7  Electronic Record-Keeping

1. Information Exchange – Company to Client

2.1  Notifications and Statements
2.2  Investment Management Agreements
 

1. Information Exchange – Client to Company

3.1  Customer Due Diligence (CDD)
3.2  Customer Identification Documentation – Economic Activity
3.3  Customer Identification Documentation – Type of Applicant
3.4  Enhanced Customer Due Diligence (CDD) and Ongoing Monitoring
3.5  Reduced or Simplified Customer Due Diligence (CDD)
 
Day 3:
 

• Internal Controls

1.  
2. The Compliance Officer
3. Distribution of Responsibilities
4. Resources and Controls
5. Monitoring Compliance
6. Risk Management
7. Personal Account Dealing

7.1   Procedures
7.2   Insiders

1. Managing Compliance Risk

8.1   Risks That May Lead to a Breach of The Legislations
8.2   Internal Audit
8.3   Plan of Operations
8.4   Record-Keeping
 
Day 4:
 

• Managing the Risk of Financial Crime

1. 1. Customer Risk
   2. Product Risk
   3. Risks Associated with the Business Model
   4. Interface Risk
   5. Reliance on Other Parties
   6. Jurisdiction Risk
2. Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) Principles
3. Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) Policies
   1.  
   2. Assessment and Review
   3. Compliance with The Policies
   4. Application to Branches and Associates
   5. Application to Outsourced Parties and Activities
4. The Training Programme
   1.  
   2. Maintenance and Review
5. Senior Management Responsibilities
6. Money Laundering Reporting Officer (MLRO) and Deputy MLRO
   1. Appointment of MLRO and Deputy MLRO
   2. Roles of The MLRO and Deputy MLRO
   3. Reporting Requirements
7. Reporting and Record-keeping
   1.  
   2.  

Day 5:
 

• Business Development

1.  
2. Branches and Agents of the Company
   •  
   •  
3.  
4.  
5. International Expansion
   1. Supervisory Colleges, Home and Host Supervisors
   2. Application of Regulations to Firms with International Branches and Subsidiaries
   3. he Challenge of Conducting Business while Meeting International and Domestic Regulations
6. Suspension, Modification and Cancellation of Licence
   1. Voluntary Changes or Cancellation of Licence
   2. Involuntary Changes or Cancellation of Licence