ACI
3I0-012 · Question #267
The popularity of FX-trading via Internet platforms has serious implications for the applicability of traditional rules such as "Know Your Customer". Which of the following are correct?
The correct answer is D. No trading should be carried out without first identifying and setting up the counterparty; this includes. See the full explanation below for the reasoning.
Question
The popularity of FX-trading via Internet platforms has serious implications for the applicability of traditional rules such as "Know Your Customer". Which of the following are correct?
Options
- A"Know Your Customer" rules cannot be applied online and banks will have to rely instead on new
- B"Know Your Customer" rules apply only to retail customers and are therefore irrelevant to currency trading.
- CIn practice, banks can avoid "Know Your Customer" rules by limiting online deal size to EUR 100,000.00
- DNo trading should be carried out without first identifying and setting up the counterparty; this includes
How the community answered
(30 responses)- A7% (2)
- B17% (5)
- C3% (1)
- D73% (22)
Community Discussion
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