Task: You are a Relationship Manager in a large, regulated firm based in a jurisdiction of your choice. You have been introduced to a new client by a Business Development Manager. You interview the new client by the name of Emmanuel Santos, who is interested in opening a series of accounts and utilising some of the firm’s investment products. You conduct the initial interview and proceed to complete the initial client information prior to carrying out a preliminary risk rating on the potential account. In this law assignment, you are required to draft a summary of the initial client information as follows: Client: Emmanuel Santos Nationality: Mexican- with residences in the US, Mexico and Columbia Business Interests: Shareholding in ABC Ltd, incorporated in the State of Delaware in US, Farming interest in Latin America and corporate interest in a pharmaceutical operation in Texas, US land holding in Mexico Source of Wealth: Family money Source of Funds: Cash investments from friends and family; Trust fund inheritance held in off shore corporate accounts in the Cayman Islands What would be your initial risk rating of the accounts of Emmanuel? Explain your rationale and the consequences of your initial risk rating The customer due diligence (CDD) support team wishes to make further enquiries about the potential client prior to on-boarding. What information would you expect them to obtain and how might it be acquired? If you decided to on-board Emmanuel as a client, but after 12 months, further information come to light that he was a criminal and was laundering the proceeds of crime, what consequences might result for the firm?
Subject Name: Civil Law_x000D_
Level: Undergraduate
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