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题目:

Inside information is '_____________' relating to a _____________of securities thatare price-affected and not to securities generally.

题目:

Explain whether Kip and Lu have committed the offence of insider dealing

题目:

材料全屏

Jaz plc is listed on the London Stock Exchange. Kip works for Jaz plc as an accountant. Whilst drawing upthe annual accounts, Kip noticed that Jaz plc's profits were better than anyone could have expected. As aconsequence of this knowledge, he bought shares in Jaz plc before its good results were announced. Hemade a substantial profit on the share dealing. Kip also told his friend Lu about the results before they wereannounced. Lu also bought shares in Jaz plc.

43

【论述题】

State the definition of inside information

题目:

Explain whether Fran or Gram will be liable for either of the following:

(i) Fraudulent trading under s213 Insolvency Act 1986

(ii) Wrongful trading under s214 Insolvency Act 1986

题目:

材料全屏

Fran and Gram registered a private limited company, Ire Ltd, in January 2009, with each of them becoming adirector of the company.

Although the company did manage to make a small profit in its first year of trading, it was never a greatsuccess and in its second year of trading it made a loss of £10,000.

At that time Fran said he thought the company should cease trading and be liquidated. Gram, however, wasinsistent that the company would be profitable in the long term so they agreed to carry on the business, withFran taking less of a part in the day-to-day management of the company, although retaining his position as acompany director.

In the course of the next three years Gram falsified Ire Ltd's accounts to disguise the fact that the companyhad continued to suffer losses, until it became obvious that he could no longer hide the company's debtsand that it would have to go into insolvent liquidation, with debts of £100,000.

41

【论述题】

State whether criminal or civil action, or both, can be taken in relation to fraudulent trading andwrongful trading

题目:

State whether Greg has any liability for money laundering

题目:

State whether Greg has any liability for insider dealing

题目:

材料全屏

Greg is a member of the board of directors of Huge plc. He also controls a private limited company, Imp Ltd,through which he operates a management consultancy business. He also owns all the shares in Jet Ltd,through which he conducts an investment business.

When Greg learns that Huge plc is going to make a take-over bid for Kop plc, he arranges for Jet Ltd to buy alarge number of shares in Kop plc on the London Stock Exchange, on which it makes a large profit when itsells them after the takeover bid is announced. He then arranges for Jet Ltd to transfer the profit to Imp Ltdas the charge for supposed consultancy work. The money is then transferred to Greg through the declarationof dividends by Imp Ltd.

38

【论述题】

State what is meant by securities being 'price sensitive' in the context of insider dealing

题目:

Explain any criminal offences Sid may have committed

题目:

材料全屏

Sid is a director of two listed public companies in which he has substantial shareholdings: Trend plc andUmber plc.

The annual reports of both Trend plc and Umber plc have just been drawn up, although not yet disclosed.They show that Trend plc has made a surprisingly big loss and that Umber plc has made an equallysurprising big profit. On the basis of this information Sid sold his shares in Trend plc and bought shares inUmber plc. He also advised his brother to buy shares in Umber plc.

Vic, who is also a shareholder in both companies, sold a significant number of shares in Umber plc only theday before its annual report was published.

36

【论述题】

State whether Vic has any right to claim for the increase in share price that he missed out on when hesold his shares

题目:

State whether Jet has any liability for money laundering

题目:

State whether Ian has any liability for money laundering

题目:

材料全屏

Ian is an accountant, and one of his clients is Jet, who runs an illegal operation as well as some otherlegitimate businesses. Jet approached Ian for advice as to how he should deal with the gains he makes fromthe illegal operation. Ian suggested that, rather than try to use his existing legitimate businesses to disguisethe source of the money, Jet should use his legally made money to buy the local football club, Kickers, withthe intention of passing his gains from the illegal operation through the club's accounts.

Jet accepted the proposal and appointed Ian as Kickers' finance director and together they passed the illegalmoney through the football club.

33

【论述题】

State the offence of money laundering

题目:

Explain whether Del or Rod will be liable for either:

(i) Fraudulent trading under s213 Insolvency Act 1986

(ii) Wrongful trading under s214 Insolvency Act 1986

题目:

材料全屏

Five years ago, Del and Rod formed a limited company, Trot Ltd. The pair were the company's only directorsand shareholders. The company was initially profitable but started making losses in its third year. Rodthought that the business should be liquidated at this point but Del persuaded him that the business shouldcontinue. Del continued to run the company but Rod, although he retained his position as a director, decidedto focus his attention on another business venture.

Trot Ltd continued to make substantial losses, but Del produced fake company accounts to hide thecompany's debts. Eventually the scale of the losses became too large to hide and the company went intoliquidation.

31

【论述题】

State whether a company must be insolvent for the offence of fraudulent trading to be actionableunder the Insolvency Act 1986 and Companies Act 2006

题目:

State whether Tim has any liability for insider dealing

题目:

State whether Mate has any liability for insider dealing

题目:

材料全屏

In January the board of directors of Huge plc decided to make a takeover bid for Large plc. After the decisionwas taken, but before it is announced, the following chain of events occurs:

(1) Slye, a director of Huge plc, buys shares in Large plc

(2) Slye tells his friend Mate about the likelihood of the takeover and Mate buys shares in Large plc

(3) At a dinner party Slye, without actually telling him about the takeover proposal, advises his brotherTim to buy shares in Large plc and Tim does so

28

【论述题】

State whether Slye committed insider dealing when he bought shares in Large plc

题目:

State whether Vlad has any liability for money laundering.

题目:

State whether Gloria has any liability for money laundering.

题目:

材料全屏

Vlad generates a substantial income from illegal tax evasion and sought advice from Gloria (his personal accountant) on how to dispose of his illegal earnings. Gloria suggested that to disguise the source of the funds, Vlad should purchase a chain of restaurants and pass his gains from the illegal operation through the restaurants' accounts. Vlad agreed with Gloria’s proposal and appointed her as the restaurant chain’s finance director and together they passed the illegal money through the operation.

25

【论述题】

State the offence of money laundering.

题目:

What is placement

题目:

Define money laundering.

题目:

LT is an accountant who works for Tapa Ltd, a company owned by SP. LT has devised a scheme where TapaLtd can illegally disguise certain revenues so that the company's tax charge is reduced. Any tax that thescheme saves is paid to SP as a dividend.

Which TWO offences has LT committed

(1) Tipping off

(2) Failure to prevent

(3) Laundering

(4) Failure to report

A

1 and 2

B

1 and 4

C

2 and 3

D

3 and 4

题目:

The term insider dealing relates to a number of potential criminal offences.

Which TWO of the following are crimes in relation to insider dealing

(1) Encouraging someone to engage in insider dealing

(2) Failing to report insider dealing

(3) Concealing insider dealing

(4) Passing on inside information

A

1 and 2

B

1 and 4

C

2 and 3

D

2 and 4

题目:

Money laundering involves a number of phases in the overall procedure.

Which TWO of the following are recognised phases in money laundering

(1) Relocation

(2) Layering

(3) Integration

(4) Distribution

A

1 and 2

B

1 and 4

C

2 and 3

D

3 and 4

题目:

Which TWO of the following are offences connected with the insolvency of a company

(1) Wrongful trading

(2) Market abuse

(3) Making a false declaration of solvency

(4) Bribery

A

1 and 3

B

1 and 4

C

2 and 3

D

2 and 4

题目:

Which of the following statements concerning wrongful trading is correct

A

Wrongful trading is a criminal offence

B

Selling company shares in the knowledge that the share price is about to fall is wrongful trading

C

A case of wrongful trading is brought by a company's administrator

D

Intent to defraud is required to prove a case of wrongful trading

题目:

Which of the following must be proved to win a case of fraudulent trading under the Insolvency Act 1986

A

The fraud was due to negligence

B

The fraud was intended

C

The fraud was profitable

D

The fraud was preventable

题目:

Which of the following is NOT classified as bribery under the Bribery Act 2010

A

An individual who accepts payment to perform a public duty

B

A company that offers a client reasonable hospitality

C

An employee of a company who offers a non-financial reward to a public official to perform a publicduty

D

A foreign national who works overseas for a company registered in the UK that offers cash to a thirdparty for them to influence a public official

题目:

To whom should a person who suspects another of money laundering report their suspicions to

A

National Crime Agency

B

National Audit Office

C

Companies House

D

Financial Conduct Authority

题目:

Which TWO of the following are offences related to money laundering

(1) Failure to report

(2) Placement

(3) Integration

(4) Tipping off

A

1 and 2

B

1 and 4

C

2 and 3

D

3 and 4

题目:

Which of the following is an example of market abuse

A

An employee who sells shares in their company at a profit

B

A finance director who makes a deliberately deceptive profit forecast

C

An individual who buys a company's shares on the advice of a broker

D

Timing the sale of a company office building so that the sale proceeds are included in the accounts ofthe current financial year

题目:

Fraudulent trading under the Insolvency Act 1986 is a civil – not a criminal offence. Any directorsfound guilty are liable to make good the company's debts.

A

The individual had no expectation of profit

B

The individual had reasonable grounds to believe that the information was about to be published

C

The individual had reasonable grounds to believe their action was in the public interest

D

The individual was not seeking to profit from the transaction personally

题目:

Directors found guilty of fraudulent trading under the Insolvency Act 1986 face which of the followingpenalties

A

Imprisonment

B

Unlimited fine

C

Make good the debts of the company

题目:

Which of the following is an agreement between an organisation and the prosecution whereby theorganisation admits wrongdoing but stops short of pleading guilty to the offence

A

Deferred prosecution agreement

B

Suspended prosecution agreement

C

Corporate prosecution agreement

题目:

Which of the following statements in relation to the offence of bribery is correct

A

Bribery is a tort

B

Bribery can only be committed in the UK

C

It is an offence for a corporation to fail to prevent bribery

题目:

In the context of money laundering, the transfer of monies in order to disguise their source is known bywhich of the following names

A

Layering

B

Integration

C

Placement

题目:

In a criminal case, which of the following parties could be offered a deferred prosecution agreement by theprosecution

A

An individual director

B

An individual shareholder

C

The company as a whole

题目:

Market abuse is an offence under which form of law

A

Civil law only

B

Criminal law only

C

Civil and criminal law

题目:

In relation to the law on insider dealing, which of the following parties would be categorised as an insider

A

A company's auditor

B

A company's supplier

C

A company's customer

题目:

Which of the following is a defence to a charge of insider dealing

A

The individual had reasonable grounds to believe that the information was about to be published

B

The individual had no expectation of profit

C

The individual was not seeking to profit from the transaction personally

D

The individual had reasonable grounds to believe their action was in the public interest

题目:

In the offence of money laundering, what is the name given to the initial disposal of the proceeds of criminal activity

A

Placement

B

Layering

C

Integration

题目:

Which one of the following is not a UK offence relating to money laundering

A

Concealing the proceeds of criminal activity

B

Tipping off

C

Dealing in price affected securities

D

Failing to report suspicion of money laundering

题目:

Insider dealing is a criminal offence.

A

True

B

False

题目:

Liquidation means that a company must be ___________ and its affairs wound up.

题目:

State Earl's rights in respect of his debentures

题目:

State the extent of Earl's liability on his share capital

题目:

材料全屏

Earl has been employed by Flash Ltd for the past 20 years. During that time, he has also invested in thecompany in the form of shares and debentures. Earl owns 5,000 ordinary shares in Flash Ltd. The shares areof £1 nominal value and are fully paid-up. The debentures, to the value of £5,000, are secured by a fixedcharge against the land on which Flash Ltd's factory is built.

In April it was announced that Flash Ltd was going into immediate insolvent liquidation, owing considerableamounts of money to trade creditors. As a result of the suddenness of the decision to liquidate the company,none of the employees received their last month's wages. In Earl's case this amounted to £2,000.

35

【论述题】

State whether Earl has any right to his unpaid wages

题目:

Explain how the company's debts will be paid out of its liquidated assets

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