2. Non-compliance of Section 137 FSA can result in:

Jail for a term not exceeding 10 years and/or fine not exceeding RM50 million or both (*)

3. BNM has the power to appoint an investigating officer if BNM has reason to believe that an offence has been committed under the FSA/IFSA......

True (*)

. An investigating officer which has been appointed by Bank Negara Malaysia is given powers to:
I) enter, search and seize with warrant
II) enter, search and seize without warrant
III) examine persons

I, II, III (*)

Under Section 133 of FSA 2013, no person who has access to any document or information relating to the affairs or an account of any customer of a financial institution shall disclose to another person any document on information relating to the affairs or account of any customer of the financial institution. What is the penalty for such offence under Section 133?

10 years imprisonment or RM50 million fine or both

No one shall obstruct the duties of a BNM's investigating officer by .......
I) Refusing to comply with any lawful demand of any investigating officer in the execution of his duties
II) Failing to provide or attempting to conceal any property, book, other document , or article in relation to the investigation
III) Assaulting, obstructing, hindering or delaying such investigating officer.

II, III

Effective 1 Feb 2011, BNM issued a guideline (BNM/RH/CIR/016-8) to authorise that anyone can obtain relevant customer information directly from the bank with written permission from BNM. True or False?

False (*)

Section 137(1) FSA/Section 149 (1) IFSA explains the contravention of any provisions which will affect a contract, agreement or arrangement. True or False?

False (*)

Disclosing customer's information to third party refers to Section _______.

Section 124 Prohibited Business conduct.

Under FSA Section 134, (Permitted Disclosure), disclosure of information is permitted to all the following except

Compliance with a court order

Brian has resigned from Bank ABC. He is not commiting an offence by giving information relating to the affairs or account of any customer of Bank ABC to any other person.

False (*)

Which of the following offences will attract the maximum penalty of either 10 years of imprisonment or a fine of RM50 million or both?

Accepting deposits without licence (*)

In which of the following disclosure circumstances, does the prohibition in section 133(1) of the FSA not apply?
I) Where the customer is a bankrupt.
II) Where the disclosure does not enable information relating to any particular customer to be ascertained from it.
III) Where the information is lawfully available to the public from any source other than the bank
IV) Where the information is for Bank Negara Malaysia.

(II), (III) and (IV) (*)

Which of the following statement is incorrect under Section 59 of FSA / Section 68 of IFSA - Disqualifications?

The person is a reputable director or officer whose photos were published in public media. (*)

Which of the following sections is incorrect?

Section 97 FSA/102 IFSA - Banking Secrecy (*)

FSA/IFSA empowers Bank Negara Malaysia (BNM) to appoint any of the following as an investigating officer:
i) an officer of BNM ii) any other person who is not an officer to render assistance to BNM

Which are the 3 groups of institutions covered under FSA?
Licensed Insurers, Licensed Person, Approved Person (*)

Under FSA Section 134, (Permitted Disclosure), disclosure of information is permitted to all the following except
Written permission by customer's spouse on spouse's individual account (*)

What is the principal regulatory objective of FSA?
To foster the safety and soundness of financial institutions. (*)

Disclosing customer's information to third party refers to Section
Section 133 (1) Secrecy (*)

A financial holding company under the FSA is a company which ....
Holds an aggregate of more than fifty percent of interest in shares of a licensed person or has an aggregate interest in shares of fifty percent or less but has control over a licensed person; and has obtained the approval of BNM to be a financial holding company of the licensed person. (*)

Under Section 133 of FSA 2013, no person who has access to any document or information relating to the affairs or an account of any customer of a financial institution shall disclose to another person any document on information relating to the affairs or account of any customer of the financial institution. What is the penalty for such offence under Section 133?

5 years imprisonment or RM10 million fine or both (*)

In which of the following disclosure circumstances, does the prohibition in section 133(1) of the FSA not apply?
I) Where the customer is a bankrupt.
II) Where the disclosure does not enable information relating to any particular customer to be ascertained from it.
III) Where the information is lawfully available to the public from any source other than the bank
IV) Where the information is for Bank Negara Malaysia.

(II), (III) and (IV) (*)

Which section of FSA/IFSA prohibits the accepting of deposits without licence granted under the FSA/IFSA .......

Section 137 FSA/149 IFSA (*)

Disclosing customer's information to third party refers to Section
Section 133 (1) Secrecy