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ACTIVITIES AND SERVICES
DRAFTING OF PROFESSIONAL MANDATES
- The assumption of the role and the preliminary phase:
- The ethical rules
- Anti-money laundering obligations
- The form of the contract
- The structure of the engagement letter:
- The main clauses and general conditions of the contract
- The object of the Assignment and the related Professional Services
- The compensation
- The withdrawal
- The responsibility of the Professional
- The processing of personal data
- Anti-money laundering obligations
Domiciliation
Drafting a Professional Mandate in the contemporary context must be seen as a duty but also and above all as an opportunity to effectively manage professional relationships with your clients. From this perspective, the preliminary activities to be carried out before drafting a Professional Assignment letter, identifying in a detailed and clear manner the object of the Professional Assignment and therefore the Professional Services that will be carried out, illustrating the various clauses contractual obligations from mere formal obligations become an opportunity to identify adequate and fair compensation for the services performed, the time dedicated and the responsibility assumed, and to avoid consequences and disputes which also have financial effects. All with good satisfaction for the Professional and his Clients.
PROFESSIONAL RESPONSIBILITY AND ETHICAL OFFENCE
ACTIVITIES AND SERVICES
- Code of Conduct
- Illustration to the Client with simplicity and clarity of the essential elements and any risks associated with the Assignment
- Civil liability
- Case of non-compliance
- Ethical offence
- Disciplinary proceedings
- The pathology of the relationship
First of all it is necessary to analyze the regulatory framework of the civil liability of the professional, secondly to analyze the different cases of non-compliance. Without forgetting the ethical offence: upon accepting the assignment, the Professional informs the Client of their respective rights and duties as well as informs him of the existence of the Profession's Code of Ethics; the Professional must also promptly illustrate to the Client, with simplicity and clarity, the essential elements and any risks connected to the task entrusted to him.
ANTI-MONEY LAUNDERING OBLIGATIONS
The Professional is required to fulfill the obligations related to the prevention of the use of the financial system for the purposes of money laundering and terrorist financing pursuant to Legislative Decree no. 231/2007 (as amended by Legislative Decree 25 May 2017, n. 90) before the assignment of the Professional Assignment concerning the professional service and, in particular, to proceed with the "Know your Client KWC - adequate verification of the customer", the conservation of the documents and information, as well as, where necessary, reporting suspicious transactions. Pursuant to this legislation, the Client is obliged to provide the Professional with the documents and information relating to the natural person (or company) and the signatories of the Professional Engagement Letter, as well as to the Beneficial Owner of the service in the case of the Client a different from the natural person. Furthermore, these documents and information must be transmitted as promptly as possible in the event of a subsequent change in the Beneficial Owner's data, in order to allow the Professional to promptly carry out the due diligence requirements required by law, including constant monitoring. Consequently, the non-availability of the requested documents and information could prevent the execution of the professional service, as expressly provided for by the Anti-Money Laundering legislation. Please note that the relevant documentary file is attached to the Professional appointment letter and constitutes an integral part thereof.
ACTIVITIES AND SERVICES
- Adequate customer verification
- Identification of the Ultimate Economic Beneficiary
- Identification of the Beneficial Owner
- Documentary file
- Document storage
- Reporting suspicious transactions
ACTIVITIES AND SERVICES
PRIVACY AND PERSONAL DATA PROTECTION OBLIGATIONS
- The purposes and methods of processing for which the data are intended
- The mandatory or optional nature of the provision of data
- The consequences of a possible refusal to answer
- The subjects or categories of subjects to whom the data can be communicated and the scope of dissemination of the data themselves
- The rights referred to in the art. 7 of Legislative Decree no. 196/2003
Privacy information for the processing of personal data pursuant to art.13 of EU Regulation n.679/2016 – GDPR (protection of persons and other subjects with respect to the processing of personal data): pursuant to Legislative Decree 30 June 2003, n. 196, the Client authorizes the Professional, auxiliaries and/or substitutes to process their personal data for the execution of the entrusted Professional Assignment. The documentation relating to the protection of personal data constitutes an integral part of the professional assignment entrusted.
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