News

AML duplication causes concern

Monday 16th of March 2015

Adviser Meredith Cornelius, who also runs a business helping others with their AML/CFT obligations, said some businesses felt they were doing customer due diligence (CDD) many times over for the various parties involved with each client.

An adviser who dealt with wrap provider Aegis would need to provide CDD in the format Aegis’ supervisor, the Reserve Bank, wanted and conduct their own...

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