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Course What will the Money Laundering Regulations 2017 mean for your Practice?

Overviewnew


The long-awaited revision of the Money Laundering Regulations, rejoicing in the new longer title of "The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017" to reflect the other related financial crime concerns of the day, has now been released by HM Treasury. The new regulations will take effect on the 26th June this year in order to meet the deadline imposed on EU member states by the Fourth EU Anti-Money Laundering Directive ("MLD4").

The current requirements for client identity checking remain in place but will need some amendments, with new requirements for checking on politically exposed persons and beneficial interests in particular. More importantly, all firms will need to conduct a risk assessment on their exposure to money laundering activity and then tailor their anti-money laundering policy accordingly. Greater management oversight will be required and there will also need to be regular auditing of the operation of the policy which has been adopted.

This highly focused session will:

  • explain the background to the Fourth EU Directive on Money Laundering which required the revised regulations to be adopted
  • analyse how the enhanced compliance management responsibilities will need to be addressed in different types of firms
  • provide worked examples of the risk assessment processes required by the regulations
  • outline the revised requirements set out in the regulations which will be need to be in place by the 26th June and provide some template policy terms
  • show the relationship with the Proceeds of Crime Act 2002 and the Terrorism Act 2000 and outline the changes to the statutory regime that will arise from the Criminal Finances Bill
The new provisions require a greater degree of oversight by the various regulators, including the SRA, and an impending audit of the UK by the international Financial Action Task Force ("FATF") also makes this a priority concern for Government, making the need for compliance by all firms subject to the regulations all the more important.

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Details


Type
Course
Level
Intermediate
CPD
3 hours
SRA

Fees


£105.00
Package Price
Click here for details

£240.00
Non Member

(Excluding VAT)

Speakers


Matthew MooreDetails

Brochure


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Book

Wed 24 May 2017 Book
14:00 | Leeds
Matthew Moore

Thu 25 May 2017 Book
14:00 | Manchester
Matthew Moore

Tue 06 Jun 2017 Book
14:00 | Birmingham
Matthew Moore

Wed 07 Jun 2017 Book
14:00 | Norwich
Matthew Moore

Thu 08 Jun 2017 Book
14:00 | London
Matthew Moore

Thu 15 Jun 2017 Book
14:00 | Newcastle-Upon-Tyne
Matthew Moore

Wed 21 Jun 2017 Book
14:00 | Exeter
Matthew Moore

Thu 22 Jun 2017 Book
14:00 | Southampton
Matthew Moore

Wed 28 Jun 2017 Book
14:00 | London
Matthew Moore

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