fictitious names. Owner(s): If no proper Ng, Manager, BD verification is Remisier and BD MSF performed before b) BD had documented procedures on account opening, suspicious transaction reporting since Implementation Date: there is a risk 2010. However, this was not ported over to 31 Aug 2014 that the accounts the new OCM folders. may be opened in fictitious name, BD will inform Credit Admin to furnish the NA thereby resulting procedures for Third Party Authorization to in be included in the TR Hand-book. In compliance with addition, we will also request that Credit regulations. Admin shares on Third Party Authorization Policy/Guidelines in their training slides Owner(s): Compliance during the TR Orientation. George Kwok, Head Credit Admin In view of the Implementation Date: above, 31 Aug 2014 Compliance recommends BD Remisier and BD MSF to stress and reiterate to the TRs on the importance on
fictitious names. If no proper verification is performed before account opening, there is a risk that the accounts may be opened in fictitious name, thereby resulting in with regulations. Compliance In view of the above, Compliance recommends BD Remisier and BD MSF to stress and reiterate to the TRs on the importance on compliance b) BD had documented procedures on suspicious transaction reporting since 2010. However, this was not ported over to the new OCM folders. BD will inform Credit Admin to furnish the procedures for Third Party Authorization to be included in the TR Hand-book. In addition, we will also request that Credit Admin shares on Third Party Authorization Policy/Guidelines in their training slides during the TR Orientation. Owner(s): Ng, Manager, BD Remisier and BD MSF Implementation Date: 31 Aug 2014 NA Owner(s): George Kwok, Head Credit Admin Implementation Date: 31 Aug 2014
Appendix%201%20(Review%20on%20KYC%20of%20Front%20Office%20BUs)%20BD%20Remisier%20and%20BD%20MSF.docx