Course description
Reducing financial crime remains a key priority for the Financial Conduct Authority (FCA), especially with regards to money laundering and bribery. To this end, the FCA’s strategy focuses mainly on ensuring that firms comply with anti-money laundering legislation and guidance.
Guy Wilkes from Mishcon de Reya LLP presents this comprehensive and informative webinar that summarises the framework of the FCA’s regulations and the consequences that will arise if you fail to comply with them. It includes a look at the financial penalties, suspension of business and criminal prosecution that can ensue; the differing products that fall inside and outside of the anti-money laundering regulatory parameter and much more.
Upcoming start dates
Outcome / Qualification etc.
Training Course Content
Introduction
Join Guy Wilkes from Mishcon de Reya LLP as he presents this webinar considering the key legislation and guidance that applies to the insurance sector and provide practical advice on compliance.
The reduction of financial crime remains a key priority for the FCA.
A key component of FCA strategy is ensuring that firms comply with anti-money laundering legislation and guidance.
Failure to comply can result in financial penalties, suspension of business or criminal prosecution.
Because of the range of services provided by the insurance sector, compliance with AML regulations can be complicated, with differing products falling inside or outside the AML regulatory perimeter.
What You Will Learn
This webinar will cover the following:
- The regulatory landscape for anti-money laundering including the roles of FATF, NCA and the FCA
- Substantive money laundering offences in the Proceeds of Crime Act 2002
- Requirements imposed by Money Laundering Regulations including
- Guidance on which insurance activities are within scope
- The main obligations on firms - risk assessments, management controls, customer due diligence, ongoing monitoring, suspicious activity reporting
- The role of MLRO and nominated officer
- Statutory guidance for the insurance sector produced by Joint Money Laundering Steering Group
- FCA approach to supervision and enforcement, traps for the unwary
Expenses
MBL Seminars Limited
MBL is a leading learning and development provider for professional service firms. Over the past 18 years, more than 198,000 people across 23,000 different organisations spanning 81 countries, have chosen us to deliver their training. With over 800 expert speakers...