Text extracted via OCR from the original document. May contain errors from the scanning process.
/ Southern Financial
LLC [I]
ODC-Equities Account-Openin Jesse-J Cruz
Cc: ODC FixedlncomeRepoECM Martin Zeman Classification: For internal use only
Hi Nina,
I believe James was speaking about the AFC review for the account. Now that
the AFC piece was approved, the account was able to move forward to the
downstream operational setups. This is essentially the last part in the
process.
The ask is for some sort of confirmation details to use for margining with
Southern. Attaching the original ask here.
Thanks, Zack
Cc: ODC FixedlncomeRe oECM
LLC [I] ; ODC-Equities Account-0 Jesse-3 Cruz Martin Zeman
Zack - can you please clarify the ask?
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I thought James said this was completed?
Thank you Nina Tona
KCP products and services are intended and available only for persons who
are sophisticated institutional investors within the meaning of the FINRA
Rule 4512(C)(3), and who are capable of evaluating the strategies, characteristics and investment risks of, and exercising independent judgment
in evaluating, the ideas and products discussed herein. Trades and transactions are subject to relevant internal approvals of DBSI or its
affiliates prior to execution, and the execution of any transaction or idea
discussed herein is conditional on your becoming a client of Deutsche Bank.
Key Client Partners (KCP) products, investment ideas and solutions and
related matters discussed herein are provided for discussion purposes only,
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investment advice.
The information set forth herein is confidential and personal to you and is
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reproduction and/or redistribution thereof (in whole or in part) or disclosure of its content without our written consent is strictly
forbidden. This communication does not create any legally binding obligation on the part of DBSI or any of its affiliates.
LLC [I] Martin Zeman
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Adding Nina in case Martin is 000.
Thanks, Zack
Cc: ODC FixedlncomeRe oECM
LLC [I] Martin Zeman
Hey Martin - do you have any confirmation details that can be used for
downstream setups? See attached for the request.
Maybe we can use Richard's email?
Thanks, Zack
Cc: Zack Bunimovich ; ODC-Equities Account-Opening
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; ODC FixedlncomeRepoECM
LLC [I] Hi Jesse,
We are awaiting for the confirmation email. Please find attachment for your
reference.
Thanks and Regards, Nikita.
Client Account Management
GTO
Tel:
Group Inbox :
ODC-Equities. Account
ODC-Equities Account Please reply to above emails for quick response.
Feedback / Escalations:
ESCALATION Points of contact
APAC Coverage
EMEA Coverage Late EMEA / NY Coverage Level-1
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Devaraj Vaddin Leroy Coutinho Mukesh-tcs Shah Level-2
Bharath Achar Vritika Mutreja Rajesh-E Kumar Level-3
Gourish Shirodkhar Kiran-Chandrakant Naik Chaitanya Nataraj
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This email is sent to you by Tata Consultancy Services on behalf of Deutsche
Bzank.
Diese email wurde Ihnen von Tata Consultancy Services im Auftrag der
Deutschen Bank gesendet
Cc: Zack Bunimovich Southern Financial
LLC [I]
ODC
Hi Teams, Please set up for GED and Convertible Bonds.
Kind regards, {cid:image002.png@OlD17DF5.9DBBDFD0}
Jesse Jay Cruz Analyst
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Deutsche Bank Securities Inc.
Client Data Services I DBUSA Core Corp.
5201 Gate Parkway, 32256 Jacksonville, USA Tel:
Email:
LLC [I]
Hey - can this be sent downstream now for the GED, GCD, and CB parts?
Thanks, Zack
Cc: Kareen Johnson Daniel-A Klyashtorny • Nina Tona
• Xavier Avila Davide-A Sferrazza • AMLUK Reviews ; Devshiji Odedra
Ian Salters Simon Nall Ricky-x Patel Jesse-3 Cruz Zack
Bunimovich
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LLC [I] James, thank you.
Zach - please let us know next steps and timing to complete this extension
for Southern Financial LLC.
Martin
• AMLUK Reviews ; Devshiji Odedra Ian Salters Simon Nall
Ricky-x Patel ; Jesse-3 Cruz • Zack Bunimovich
LLC [I] Hello all,
After liaising with Global CDS teams and specialist colleagues, UK AFC have
identified the key barriers and now duly approved the Extension request.
I am happy to confirm that a BRG approval will NOT be necessary for this
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Extension.
For the sake of clarity and knowledge sharing it would be prudent to share a
brief summary of the cause and resolution of such. I am more than happy to
discuss and expand further via telephony should it be requested.
i.
Extension request was received by UK AFC and upon our initial review of the request it was apparent that there was no UK
adoption within the dbCAR system, therefore AFC queried the requirement of a
BRG review ii.
Post investigation identified UK products had been booked WITHOUT a UK adoption - a never seen before scenario
iii.
Escalations to local policy colleagues and global CDS teams had also never seen such a scenario. Two cause theories were presented;
a.
KCP clients had migrated from dbCLIENT to dbCAR, potentially the migration did not complete correctly (this will continue to be investigated
SEPERATELY to this Extension request)
b.
At the very first adoption of the client/extension to UK GM products, this was not correctly booked within our internal systems
iv.
Fixes to the dbCAR profile were discussed between Global
CDS teams, of which the latter was chosen due to time constraints and the
impact upon our first line colleagues ;
a.
LKYC-US to be reviewed and approved by US colleagues which would subsequently updated the LRD/NRD dates, subsequent leverage could be used
off of the LRDs to create an NCA to book the client correctly (US CDS colleagues advised that they did not believe the LKYCUS was to be further
actioned)
b.
LKYC-GB to be approved to kick start the NCA & LRD/NRD dates within dbCAR
v.
Following the LKYC-GB being approved, the file was immediately reviewed and was deemed that the UK adoption location had been
fixed vi.
Subsequent Extension request was approved
Many thanks to all that shared their knowledge, I will be looking further
into KCP clients with UK adoptions to ensure that such scenarios do not
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become a recurrent theme.
As always, please give me a shout if you have any questions.
Kind regards, {logo} James Gladwin
AFC Business Advisory Anti-Financial Crime
DBOI Global Services (UK) Limited 5 Brindley Place, Birmingham, B1 2JB, United Kingdom
Email:
P Please consider the environment before printing this email
Reviews Devshiji I.e.ra Ian Salters ; Simon Nall Patel
LLC [I] Zack Bunimovich ; Daniel-A Klyashtorny • Xavier Avila ; AMLUK
•ic y-x
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Hello all,
I have had the pleasure with speaking directly with Martin and colleagues to
assist UK AFC with this KCP Extension.
UK AFC are kindly in receipt of the KCP GM policy dated June 2017 (duly
noted that this is currently under review), this document has proved useful
in giving context to the UK GM product nexus with solely a US booking.
Due to the local UK time, I will be discussing KCP Extensions with my management on Monday as to best understand and process such requests in the
future.
I truly appreciate the time and knowledge that has been shared and look
forward to our conversations next week as to support each other.
Many thanks all, {logo} James Gladwin
AFC Business Advisory Anti-Financial Crime
DBOI Global Services (UK) Limited 5 Brindley Place, Birmingham, B1 2JB, United Kingdom
Email:
P Please consider the environment before printing this email
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• Nina Tona Davide-A Sferrazza Reviews ; Devshiji Odedra
LLC [I] Hello all, Do we have BRG approval for this?
; AMLUK
This is appears to be a cross-jurisdictional adoption from DBSI to DB AG,
furthermore, the LRD for the US is 2016 and does not appear to be in the
Remediation pipeline?
For Extensions to be approved, AFC UK require:
i.
BRG approval to consider cross-jurisdictional approvals which result in newly booked High Risk clients
ii.
The file to be within NRD date and if not, must be within the Remediation pipeline - of which it appears it is neither
@CDS colleagues,
Please consider the above points, I am happy to further explain on the phone
to assist our business colleagues & clients expectations.
@Martin I will keep you updated on the progress made.
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Many thanks all, {logo} James Gladwin
AFC Business Advisory Anti-Financial Crime
DBOI Global Services (UK) Limited 5 Brindley Place, Birmingham, B1 2JB, United Kingdom
Email:
P Please consider the environment before printing this email
AMLUK Reviews ; Jesse-J Cruz ; James Gladwin
IIIMP.
Nina Tona • Davide-A Sferrazza u ject:
: sca a ion:
LLC [I] • Daniel-A Klyashtorny • Xavier Avila
James - responding to your questions below. The extension is permanent.
Southern Financial LLC trade global macro and are looking to buy CDX IG
payer spreads as a hedge for their overall equities and fixed income portfolio they trade with DB. The initial size is around $100M.
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Please call me if you need any more details. This is a priority for our
desk. Thank you.
; Martin Zeman • Nina Tona
LLC [I] +Nina
IE; Jesse-3 Cruz ; James Gladwin Martin Zeman
LLC [I] Hi James, For ii, this is a permanent extension.
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Martin - can you advise on the questions from James in i. below?
Thanks, Zack
; AMLUK Reviews
LLC [I] Hi both, I am happy to help.
Just a couple of immediate questions to help expedite this:
i.
a.
ii.
a.
What is the business purpose for the extension?
Elaborate on key details including; booked trades, expected volumes
Is the extension request permanent or temporary?
Please provide activation/closure dates if temporary
FYI,
Helen has been removed from the chain as she has left the bank.
AMLUK.COMPLIANCE has been removed, AMLUK.REVIEWS primarily
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work extensions/reactivations now alongside our PRs/EDRs and not the aforementioned team.
Many thanks!
{logo} James Gladwin
AFC Business Advisory Anti-Financial Crime
DBOI Global Services (UK) Limited 5 Brindley Place, Birmingham, B1 23B, United Kingdom
Email:
P Please consider the environment before printing this email
LLC [I] James/Helen, amluk compliance ; Helen Ncube ; Daniel-A Klyashtorny
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Can you assist with this request? Please make top priority.
Thanks, Jesse
LLC [I] Hi AML teams, Can you please revert on the below?
Thanks, Zack
Cc: Zack Bunimovich
amluk compliance Kareen Johnson Southern Financial LLC [I]
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Hi All,
We are performing a principal product extension for Southern Financial, LLC
for GED, Convertible Bonds, and Global Credit Derivatives in DBAG. DBcar
triggered a high risk rating. Attached is an EDD package comprised of the
following:
Searches Formation documents Tax document Correspondence with client emails
Financial statements Please let me know if you need any additional information.
Kind regards, {cid:image002.png@OlD17DF5.9DBBDFD0}
Jesse Jay Cruz Analyst Deutsche Bank Securities Inc.
Client Data Services I DBUSA Core Corp.
5201 Gate Parkway, 32256 Jacksonville, USA
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Tel:
Email:
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