Question 1 - Short Answer Questions (20 marks)

1. Discuss the benefits ad disadvantages of managed investment schemes.
2. When are managed schemes required to be registered and what is required?
3. Explain what is meant by best interest duties in terms of financial provider and client relationships
4. Explain the different legal relationships that arise out of financial provider and client relationships
5. What should a statement of advice provided to a client by a financial advisor include
6. What obligations do financial service providers have with regard to minimising money laundering