CELE SQE

CELE SQE1 模拟练习

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You are a partner in a busy high street practice carrying out the following types of work: (i) Assisting a client who is buying a house to find a suitable endowment mortgage, making arrangements for him to buy the policy recommended by the ATP and communicating with your client regarding the said policy. (ii) Advising a personal representative to sell assets of a deceased’s estate which include shares. (iii) Acting as a trustee pursuant to the 'trustee/PR' exclusion under the RAO.

Which of the following best describes whether these activities constitute an unlawful financial promotion?

Only assisting a client who is buying a house to find a suitable endowment mortgage, because no RAO exemption applies.

Only advising a personal representative to sell assets of a deceased’s estate which include shares, even if the trustee exemption applies, as the solicitor will still be subject to the financial promotion rules.

Only making arrangements for the client to buy a policy recommended by an ATP, even though the ATP exemption applies, as the solicitor will still be subject to the financial promotion rules.

Any assisting, making arrangements, advising, or acting as a trustee, since even where an exclusion under the RAO would otherwise apply to exclude an activity from FCA regulation (e.g., ATP or trustee exclusions) – the solicitor will still be subject to the financial promotion rules.

The financial promotion rules would not apply where an exclusion under the RAO would otherwise apply to exclude an activity from FCA regulation (e.g., ATP or trustee exclusions).

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All three activities would require FCA authorisation or an exemption from regulation. Even where an exclusion under the RAO would apply to exclude an activity from FCA regulation (such as the ATP or trustee exclusions), the solicitor will still be subject to the financial promotion rules.

Key Point: This question evaluates the understanding of financial promotion rules and their application even when RAO exclusions apply, ensuring compliance with FCA regulations.

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Financial ServicesUnit 3Chapter 4: The Financial Services Regulatory

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