Chapter 16 - confidentiality

Question 1

1. When is it a duty to disscolse confidential client infomation?
2. When may confidential client infomation be disclossed with their pomission?

Answer 1

1. If ordered to disclose by court

• If required by a finance conduct, charity commsion
• Suspicions on mondey laudering
• Suspisions of teriost attacks

2. When disclosure is in the public interest
   * When a client is taking you to court

Question 2

1. What is money laundering
2. What do the money launering regulations state

Answer 2

1. Illegal revenue → keeping overpayments ,non complience to save cost etc
2. It is a criminal offence not to report suspicion of money laundering → do not let on to client

Question 3

1. What should you do if you want to take on 2 clients with conflicts of interest? (similar clients)
2. When a firm have 2 clients with conflicts of interest what safeguards need to be put in place?

Answer 3

1. Nofify relevent clients of situation
   * Seek their consent to continue to act for both parties

2.