Conduct, Rules, Ethics & Professional Practice Level 2

Question 1

Suite B Cotgrave Business Hub - Talk me through the process of carrying out a ML check on a prospective Tenant.

Answer 1

ID Check, due diligence, ownership structure, sources of income, look for red flags

Question 2

Suite B Cotgrave Business Hub - How do you know you can rely upon information contained in a credit check?

Answer 2

Trust in finance team and the advise from specialists and professionals

Question 3

Suite B Cotgrave Business Hub - How do you assess how the money was made and whom it goes to? What right do you have to ask?

Answer 3

Check the details in the credit checks and sometimes request company accounts. Have the right to ask as the landlord and as part of the money laundering regulations.

Question 4

Cotgrave Shopping Centre - Talk me through the conflict and why you couldn’t be involved.

Answer 4

It would be unfair to other applicants, abuse my position, unethical

Question 5

What are your Conduct, Rules, Ethics & Professional Practice Level 2
examples?

Answer 5

Suite B Cotgrave Business Hub
Money laundering checks were needed on an individual who vacated under one business but wished to take occupation in the name of another business. This involved checking the businesses on Companies House, obtaining credit checks on the businesses as well as the individual, assessing how the money was made and to whom it goes. No suspicious activity was detected, and the tenancy was granted.

Cotgrave Shopping Centre
A family friend asked me to use my position to get them selected for a unit. I made it clear that this would be a Conflict of Interest and they would need to go through the same application process as everyone else, an application process which I was not a part of.