The 3 Cs

Question 1

What are the 3 C’s in relation to taking instructions?

Answer 1

CDD

Conflict check

Client care letter

Question 2

When do you carrY out CDD?

Answer 2

Establish a business relationship

Carry out occasional transactions

Suspect ML/ TF

Question 3

What is CDD?

Answer 3

Identifying your client and verifying their identity on the basis of documents, data or information from reliable sources

Question 4

What can IDV include?

Answer 4

obtaining or viewing original documents eg passport

conducting E-IDV

Obtaining information from other regulated persons

Question 5

Which provisions of CCS does a client care letter help to satisfy?

Answer 5

Service and competence

Complaints handling and client information

Question 6

What is the basic concept of client care letter

Answer 6

Ensure that clients are informed on writing at the time of the engagement about:

Their right to complain about your services and your charges

How a complaint can be made and to whom

Any right they have to make a complaint to the Legal Ombudsman and when they can make any such complaint

ensure they are in position to make an informed decision about the services they need

likely overall costs of the engagement