PRIVATE CLIENTS: WHAT DO BANKS ASK FOR SOURCE OF FUNDS
This event is specially dedicated to recent changes in compliance procedures, standards and requirements for source of wealth confirmation, especially in respect of private clients of CIS origin.
Compliance risk has become one of the most significant ongoing concerns for financial institutions. From the clients’ prospective the account opening process has become more time consuming and demanding for documents.
We will discuss the following issues:
- Are there special requirements for CIS clients?
- What is the source of wealth confirmation standard?
- When can the banks request supporting documents and ask additional questions?
Speakers:
- Heinrich NOLTE, Head Business Management, Wealth Management Central and Eastern Europe at Bank Vontobel
- Nicolas MARINIER, Chief Compliance Officer at East-West United Bank
Moderator:
- Daria NEVSKAYA, Head of HNWI Committee, Partner at FTL Advisers
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