Zero or CIRO
Word for a nil score in tennis?
Love
UTR
Unusual Transaction Report
What type of NFR is Fraudulent activities perpetrated by employees against the Bank exposing it to financial loss
Internal Fraud
How many cities is our team located in? a) 1 b) 4 c) 6
A $3B penalty against a Canadian Bank in 2024 was for what violation?
Inadequate AML controls
CIRO is an amalgamation of which 2 regulatory bodies?
MFDA and IIROC
HNW
High Net Worth
What type of NFR is Failure to safeguard customer personal and confidential business information
Privacy
What is the name of the system used to manage self-identified issues
Global Issues Management System (GIMS)
Is personal email an approved channel to communicate with clients?
No
What does CIRO oversee?
Investment and mutual fund firms and their representatives across Canada
KPI/KRI
Key Performance Indicator / Key Risk Indicator
What type of NFR is Failure to know your customer, attract new customers, manage customer service and retain profitable, long-term customer relationships
Customer
What does RCSA stand for?
Risk and Control Self-Assessment
If you received a gift valued at $275 CAD, is this reportable under the GWM Gifts and Entertainment Policy?
Yes, gifts valued at $250+ are reportable under the GWM Gifts and Entertainment Policy
CIRO carries out its regulatory responsibilities under Recognition Orders from the provincial and territorial securities commissions that make which organization
Canadian Securities Administrators (CSA)
KYC/KYP
Know your Client / Know your Product
What type of NFR is Service provider fails to deliver functionality and performance as required to effectively support the underlying business
Third Party / Outsourcing
How frequently should Compliance Risk and Controls Assessments (CRCA) for Wealth Business units be carried out?
Annually, at minimum. (Quarterly in the event of a material change)
What is the threshold for an operational loss required to be reported through an ORE (Operational Risk Event)?
$10K
CIRO sets and enforces rules for the business and financial conduct of Canadian investment and mutual fund firms and their representatives across Canada. In what year do we expect CIRO's consolidated rules to be published?
Expected in 2026
PII
Personally Identifiable Information
What type of NFR is Inability to restore business operations following a disruption in a timely manner
BCM
What line of defence is Internal Control?
1st line of defence ("1B")
True or False: Can CIRO halt trading in a stock and even cancel or adjust trades where market integrity is concerned
True