(c) Your firm has provided financial advice to the Pholey family for many years

(c) Your firm has provided financial advice to the Pholey family for many years and this has sometimes involved your

firm in carrying out transactions on their behalf. The eldest son, Esau, is to take up a position as a senior

government official to a foreign country next month. (4 marks)

Required:

Identify and comment on the ethical and other professional issues raised by each of these matters and state what

action, if any, Dedza should now take.

NOTE: The mark allocation is shown against each of the three situations

(c) Financial advisor■ Customer due diligence (CDD) and record-keeping measures apply to designated non-financial businesses andprofessions (such as Dedza) who prepare for or carry out certain transactions on behalf of their clients.■ Esau is a ‘political