The Liver Building

The essential practical guide for the Money Laundering Regulatory Officer

Details

Speaker: Jo Morris

Date: Tuesday 4th September, 2018

Time: 10:00 - 13:00

Areas of Law: Management

Venue:
Liverpool Law Society,
2nd Floor Helix,
Edmund Street,
Liverpool,
L3 9NY

Course Code: S4062

Description

On the 26th June 2017, under the Fourth Money Laundering Directive (4MLD), the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came in to force.  Changes were also made to the Proceeds of Crime Act (POCA).

Under the MLR2017 and legislation it is a requirement by law to have a nominated money laundering reporting officer (MLRO) in the regulated sector. MLRO’s and their deputies will need to ensure that all policies, procedures and internal controls have been updated to incorporate the changes and training has been provided for the staff.

The SRA have already conducted their first thematic review under the new regulations.  What were their findings?  How much have you put in place under the 2017 regulations?

The course will cover:

  • The appointment of the MLRO
  • Job description – what does the role cover
  • The Money Laundering Regulations 2017:
  • Risk assessment requirements and the role of the MLCO
  • Changes made to due diligence
  • Capturing of client information
  • Identifying the source of funds and wealth
  • The extended definition of a PEP
  • Beneficial owners
  • Record keeping
  • MLR2017 and Data Protection
  • Training – who, what, when and how
  • Reporting to the NCA – what to report and how to complete a SAR
  • Penalties for getting it wrong
  • Template documents – what records should you be keeping
  • The future – 5MLD and 6MLD

Speaker Biographies

Joanna Morris has over thirty years’ experience of working in solicitors practices from being a legal cashier to a practice manager. Joanna is a consultant having previously worked in a top 40 law firm as a Risk and Regulatory Compliance Training Manager. She has also worked as the Finance Compliance Manager for the first Alternative Business Structure (ABS) in Wales. She is a Diploma member of the Institute for Legal Finance and Management (ILFM). Joanna is a qualified NVQ assessor and holds a Certificate in Education for Teaching in the Lifelong Learning Sector. Jo was highly commended in June 2011 by the Legal Education and Training Group (LETG) in the category Best Programme for Lawyers for Solicitors Accounts Rules training for Hill Dickinson LLP. She was also shortlisted in the category of Compliance Trainer of the Year for the Women in Compliance Awards 2014.

Prices

Member £105
Non-member £150
Corporate Member Training Offer 1 Credit
Training Season Ticket Free
Note: 20% VAT added at checkout