http://www.fadyart.com/parties#PcsClientComplianceEvaluation
Class PcsClientComplianceEvaluation
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The scope is the evaluation of a (possible or existing) client relationsship from compliance point of view.
The source for the process are the recommendations and guidelines of:
- the Finanial Action Task Force (FATF)
- the Basel Committee guidelines for banks on due diligence
The recommendations of the FATF have been largely translated into national laws. These might vary slightly from country to country through their practical implementations. Think about the application of the same rules by countries with or without bank secrecy obligation.
The procedure shall thus eventually vary slightly per principal.
The relation isApplicableForPrincipal points to the principals applying the rules in the described way.
The purpose of the process is to avoid being involved in
- money laundering: money earned by criminal acts and recycled into the regular economy;
- financing of terrorist activities
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Customer acceptance processes
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http://www.bis.org/publ/bcbs85.htm
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http://www.fatf-gafi.org/
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pcdCECreateIndividualParty, pcdCEDecideRelationship, pcdCEEvaluateHighIntegrityRisk, pcdCEFileClientDocumentation, pcdCEFillTheComplianceQuestionnaire, pcdCEFillTheMiFIDQuestionnaire, pcdCEFillTheRelationsWithOtherParties, pcdCEGatherClientDocumentation, pcdCEProvideAdvice, pcdCERegisterBirthAndDeceaseInformation, pcdCERegisterClientNames, pcdCERegisterCllentDocumentation, pcdCERegisterFiscalInformation, pcdCERegisterTheCommunicationInformation, pcdCERegisterTheCreditRating, pcdCERegisterTheEconomicInformation, pcdCERequestAdvice, Register other identification information |
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