Securities Sponsor Representative (China) flashcards
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30 cards. Read the term and the definition here. The deck at the top of this page is optional.
- Tax base
- The amount determined under the applicable tax rule before calculating tax, which need not equal every cash receipt or accounting profit.
- Withholding
- The collection of tax through an obligated payer under its conditions, distinguished from assuming that it always establishes the final annual position.
- Tax credit
- An amount applied against tax under the relevant conditions, distinguished from a deduction from the underlying income or base.
- Tax deduction
- An amount reducing a relevant tax base where the applicable conditions are met, rather than any payment a business considers useful.
- Tax residence
- A status determined under the applicable jurisdiction and framework, which should not be inferred from one address or nationality alone.
- Tax reconciliation
- An explained connection between records, adjustments and a tax result, preserving the basis for each material difference.
- Output tax
- Tax associated with taxable supplies under the relevant VAT framework, distinguished from eligible input credit and an exempt transaction.
- Input credit
- A credit determined under the relevant indirect-tax conditions, not a guarantee arising solely from the existence of a document called an invoice.
- Disclosure
- Information communicated under the relevant duty and purpose, whose clarity and completeness matter as well as the absence of an arithmetic error.
- Due diligence
- A defined examination of facts and risks using relevant evidence, rather than acceptance of the preferred statement without testing it.
- Related party
- A person or entity connected through the applicable relationship test, whose transactions may require additional analysis or disclosure.
- Credit risk
- The possibility that an obligor fails to perform as required, distinguished from a shortage of immediately available funds alone.
- Liquidity risk
- The risk of difficulty meeting obligations when due, which can exist even where an institution reports accounting profit.
- Capital adequacy
- An assessment under the applicable prudential framework connecting capital and relevant exposures, rather than a universal ratio invented for every institution.
- Insurance reserve
- An estimated liability-related amount under the applicable insurance model, distinguished from a guarantee of the exact eventual cash claim.
- Suitability
- A process matching the relevant product and client circumstances under its conditions, which does not guarantee that an investment cannot lose value.
- Margin
- Resources required to support performance of a trading position under the relevant rules, distinguished from the full contract value or a guaranteed loss ceiling.
- Basis risk
- The risk that the hedge and underlying exposure do not change in exactly offsetting ways, leaving a residual result under the model.
- Registration decision
- A regulatory decision under its statutory conditions, distinguished from a guarantee of investment value or certification of every commercial assertion.
- Market misconduct
- Conduct prohibited under the relevant market framework, whose actual legal and factual conditions must be identified rather than inferred from an unfavorable price alone.
- Legal capacity
- A legally defined ability relevant to a person's acts, distinguished from assuming that every person can undertake every transaction in the same way.
- Representation
- Acting for another person within the relevant authority, whose scope and limits must be distinguished from the representative personal preferences.
- Jurisdiction
- The authority of a body to deal with a matter under the applicable subject, territorial and procedural rules.
- Substantive right
- A legally recognized claim, power or interest considered separately from the procedure used to seek its protection or enforcement.
- Procedural condition
- A requirement affecting the availability or conduct of a process, rather than automatically proving every underlying factual allegation.
- Burden of proof
- The allocation of responsibility for establishing relevant facts under the applicable framework and type of proceeding.
- Public instrument
- A document with the evidentiary character supplied by applicable law, whose effect should not be extended beyond what it actually establishes.
- Notarial deed
- A notarial instrument meeting applicable requirements, distinguished from an ordinary private document or a guarantee about every underlying commercial prediction.
- Succession
- The legal transition concerning a deceased person's estate, requiring attention to the relevant persons, acts and applicable framework.
- Security interest
- A legally defined interest supporting a claim against an asset under its conditions, rather than ownership of every debtor resource.