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A high-profile, successful entrepreneur has been a client of a Swiss private bank for more than a decade. Recently, the entrepreneur launched a political career, with rather extremist political views. On which grounds can the bank terminate the client's bank relationship? (Select Two.)
Correct Answer: A,E
1. Tax Compliance: Banks have a responsibility to ensure that their clients comply with tax regulations. If a client fails to provide evidence of tax compliance or is unwilling to do so, the bank may terminate the relationship to avoid legal and regulatory risks. 2. Reputational Risk: High-profile clients with extremist political views can create reputational risks for the bank. If the client's political activities or views could harm the bank's reputation, the bank may choose to terminate the relationship. Reference: 1. ACAMS Certification Package, 6th Edition. 2. The right to terminate a banking relationship unilaterally. 3. A bank's right to terminate its relationship.