ONE-DAY CONFERENCE | 28 FEBRUARY 2013 | LONDON Book before
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I am delighted to return as the chair of this conference. Changes in European anti-money laundering regulations are widely anticipated to take effect during 2013/14 which makes this conference very timely. Not only does this event offer a programme with topical as well as essential subjects, but it also has a strong track record in assembling senior anti-money laundering professionals from the top law firms to discuss existing and new practices as well as exchange their views.
Ian Smith, Barrister, 11 Stone Buildings
”A word from our chair...
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Prepare for regulatory change in 2013/14: Benchmark your firm’s current AML practices
A one-day intensive conference designed to ensure you:
Prepare for the » regulatory change that is certain to happen in 2013/14 as a result of a strengthening of the FATF recommendations
Know what to expect from a » money laundering intervention – and why you want to avoid one – as explained by an SRA intervention agent
Deal with » higher-risk jurisdictions
Instil compliance training » from day one – find out how lawyers take a different ethical standpoint in the results of a study from Nottingham Trent University
Find out what implications the » Shah vs. HSBC case will have on money laundering reporting
Get an in-depth practical look at » risk-based client due diligence and find out how to produce a written risk assessment
Expert contributions and strategic insights from:
evonshiressolicitors
COLPLINEYOUR COMPLIANCE PARTNER
Anti-money laundering compliance for law firms
presents the 9th
Sponsored by:
CONFERENCEMORE INFO WHY THIS EVENT?
| TEL +44 (0)20 7549 2535 | E-MAIL [email protected]
The strengthening of the Financial Action Task Force (FATF) Recommendations in February 2012 will undoubtedly lead to a follow-on change in the anti-money laundering regulations at a European, and then national, level by the end of this year.
Taking place in February 2013, the 9th incarnation of Managing Partner’s Anti-money laundering compliance for law firms conference could not be more perfectly timed to provide senior law firm Money Laundering Reporting Officers (MLROs) with the information they need to plan and prepare effectively for implementation of the new rules. The conference will be opened by an intervention agent of the regulator who will talk through the behaviours and oversights that have typically landed law firms in hot water and explain why you definitely want to avoid any risk of becoming the subject of a money-laundering investigation.
Be the first to know what to expectNew rules are one thing, but as anyone responsible for compliance will know, it is the practical interpretation of the regulations that is key. Past experience has shown that any given rule could have as many different interpretations, in terms of policies and procedures, as there are law firms to implement it. So don’t miss this timely opportunity to benchmark your firm’s practices in client due diligence (CDD) and reporting.
What are other firms doing?This conference, which annually draws a large crowd of the most senior Money Laundering Reporting Officers in the legal services sector offers a vital opportunity for law firms to come together to work out the technicalities of putting the new money-laundering rules into place in practice within the unique context of the law firm environment, where busy fee earners must concentrate on charging out the maximum number of billable hours. The conference will also address the unique subject of the lawyer and his/her views on ethics – hear from John Taylor, author of Forensic Accounting about the results of a study he conducted with Nottingham Trent University which reveals that lawyers tend to take a different ethical standpoint from as far back as law school. Find out what this means for your anti-money laundering training programmes and how you can instil the importance of compliance in your junior lawyers from day one.
The most critical point at which you can avoid dealing with risky individuals and businesses is of course during the client take-on stage. But even at the highest levels, it is recognised that it is impractical for a firm to have to check out every client in full detail. Instead, it is advisable to take a risk-based approach. But how do you identify the key risk factors and write a written risk assessment? How do you deal with high profile clients, such as royalty, where, nevertheless, you still have to show that you have taken due diligence? At the February 2013 conference, high-scoring speakers Sue Mawdsley from Legal Risk and Peter Derrick from Ogier will take you through these questions via two workshop sessions which will cover both the theory and the practice.
And as you would expect, the 2013 event will also cover topical issues that are not part of but are related to anti-money laundering including international sanctions and the Bribery Act. Furthermore, you can hear how the Shah vs. HSBC case has impacted on money-laundering reporting.
Don’t be left behind when it comes to anti-money laundering best practice. Book your place today to hear from mid to large sized law firms about what the new money laundering regulations mean for you.
Very relevant to current developments. Very interesting – vital info.
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Feedback from last year
Ideas for improving compliance procedures – helpful and informative day.Martin Terrell, Thomson Snell & Passmore
”Feedback from last year
” This conference is extremely beneficial to:
MLRO »
Risk Partner »
Director/Head/Manager of Risk »
Director/Head/Manager of Compliance »
Director/Head/Manager of Quality »
Managing Partner »
Partner »
Client Intake Manager »
Who should attend?
CPD information
Attendance at this conference qualifies for 5 hours, 30 minutes of SRA accredited CPD (at intermediate/advanced level). To claim your hours, quote provider code: EEW/ARCL.
CONFERENCE
AGENDA THURSDAY 28 FEBRUARY 2013
| WEB www.ark-group.com | OR see back page for mailing details
09:00 Registration and refreshments
09:30 Chair’s opening remarks Ian Smith, Barrister, 11 Stone Buildings
PREPARING FOR CHANGE
09:40 Revealing the key lessons for law firms from an intervention agent of the Solicitors Regulation Authority
Understanding the primary ways in which law firms get themselves »into difficultyWhich practice group areas are most susceptible to money laundering? »Knowing the full consequences of non-compliance »What to expect during an intervention »
Philip Barden, Partner, Devonshires
10:20 RESEARCH INSIGHTS | Encouraging lawyers to think about anti-money laundering compliance from day one
Examining findings from a research study into attitudes to ethics of »trainee lawyersUnderstanding how a lawyer’s sense of ethics can be established before »they join your firmThe importance of implementing training programmes which ensure that »anti-money laundering issues stay front of mind for junior lawyersDrawing on lessons from the study to appeal to established fee earners »and partners in your trainingEnsuring that your firm’s culture supports an ethical approach to dealing »with clients’ affairs
John Taylor, MSc, FCA, author of “Forensic Accounting”
11:00 Morning coffee break
SANCTIONS AND THE INTERNATIONAL PERSPECTIVE
11:30 Getting to grips with the increasing complexity of international sanctions
Sanctions compliance is forming an increasingly important part of firms’ anti-money laundering (AML)/counter terrorist finance (CTF) programmes. Recent years have seen a proliferation of sanctions regimes used as foreign policy tools; added complexity in EU sanctions; increasingly aggressive enforcement (particularly in the US) and overlapping extra-territorial regimes which leave traps for the unwary. In this session we will examine:
Sanctions, the basics – types of sanctions regimes, their legal basis and »jurisdictional applicationUS sanctions and their extra-territorial scope – when should law firms »be worried?Compliance, screening and reporting »
Susannah Cogman, Partner, Herbert Smith Freehills
12:10 Designing an enterprise wide approach for higher-risk jurisdictions: Can one size fit all?
Practical examples from Burma, China and Russia »Client due diligence – brick walls and reliable sources »Bribery Act (ABC) – risks and realities »Monitoring the monitors – ensuring compliance with ongoing monitoring »
Amasis Saba, Compliance Manager & Deputy MLRO, Berwin Leighton Paisner
12:40 Networking lunch break
PERSPECTIVES ON CLIENT DUE DILIGENCE
13:40 PRACTICAL SESSION | Demonstrating a risk based approach to anti-money laundering/combating the financing of terrorism (CFT)
Producing an effective risk assessment »Going beyond policies and procedures to create a compliance system »that works in practiceIdentifying early warning signs and risk factors, including country risk »Ensuring that your compliance training is effective »
Sue Mawdsley, Partner, Legal Risk
14:20 Adopting a risk-based approach to client due diligenceGetting to know your client »Demonstrating the benefits of a risk-based approach »Working with the practicalities of dealing with a high-risk client, identifying »when the right answer is no!
Peter Derrick, Senior Compliance Manager, Ogier
14:50 Afternoon coffee break
REPORTING
15:20 Suspicious Activity Reports Lawyers have an obligation to make Suspicious Activity Reports but when should
you do so, what is the best way to do it, and what happens after you have?When do you need to report »Timing »Contents of the report »Ways of actually submitting the report »What you can expect having made a report »Implications on reporting from the Shah vs. HSBC case – what »constitutes a “genuinely held belief”?
Guy Powell, Head of Professional Standards and Compliance, Hogan Lovells
BRIBERY, FRAUD AND CORRUPTION
15:50 Understanding how the Bribery Act (ABC) links to the Proceeds of Crime Act (POCA)
Identifying cases which involve the proceeds of crime as a result of »activity now legally considered to be briberyDeciding when to report »Determining the international extent of the Bribery Act, which standards »should you use in your UK firm’s foreign offices or if you are a multi-national firm?Sharing new cases and stories »
Ian Hargreaves, Partner, Addleshaw Goddard
16:20 Mortgage fraud as money laundering As ‘criminal conduct’ resulting in ‘criminal property’ mortgage fraud can also
be viewed as one form of money laundering, and perhaps the type that many firms, with property practice groups, are most likely to encounter. Mortgage fraud is generally classified as ‘application’ or ‘identity’ fraud and can lead to losses for the vendor’s advisers as well as the purchaser’s. What additional measures should be taken beyond the normal client due diligence (CDD) processes to safeguard against the losses that many firms have suffered from property fraud, and when might fraud, or attempted fraud, need to be disclosed to SOCA (Serious Organised Crime Agency)?
Classifications of property fraud »CDD when acting for purchasers »The duty to disclose and the principal offences »Dealing with attempted fraud »
Matthew Moore, Director of Consultancy Services, Colpline
16:50 Chair’s closing remarks
17:00 Close of conference
Book Your Place Now
CONFERENCE28 FEB 2013LONDON
BOOKING REF: 1017-13
One-day conference only£745+VAT
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Anti-money laundering compliance for law firms
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