The South African Reserve Bank (SARB) has imposed administrative sanctions on Southeast Exchange Company South Africa (Pty) Limited, an authorised dealer in foreign exchange with limited authority (ADLA), following identified shortcomings in its anti-money laundering and counter-terrorist financing (AML/CTF) compliance framework. While the institution is authorised to conduct limited ...
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The recent €8.5 million administrative fine imposed by De Nederlandsche Bank (DNB) on ABN AMRO offers valuable lessons for accountable institutions worldwide. The regulator found that, between 2023 and 2024, the bank failed to conduct sufficiently robust ongoing due diligence on a number of high-risk customers. Although numerous money ...
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By Lee Rossini
Many financial advisers are also business owners, which means they must balance delivering an exceptional client experience with managing the different aspects of their businesses. In some cases, advisers/owners are so focused on serving their clients, they overlook critical business management practices, thereby limiting the long-term growth and profitability of their business. What follows are some of the more common mistakes made:
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