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AML for Law Firms - 2024 Virtual Conference

AML for Law Firms - 2024 Virtual Conference

Date to be confirmed

With a SmartPlan £486

With a Season Ticket £540

Standard price £720

Future dates are coming soon. Please let us know if you wish to be notified.

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A; B; D
Level
Update: Requires no prior subject knowledge
CPD
5 hours
Group bookings
email us to discuss discounts for 5+ delegates

Introduction

Chaired by Trevor Hellawell, this online conference with a panel of leading experts offers a comprehensive update as to the current hot topics in this fast-moving area.

Each session will provide a full opportunity for questions and answers.

Conference Agenda

This 5-hour conference will cover the following:

10:00am-11:00am: LSAG - E-CDD & Source of Wealth

Chair: Trevor Hellawell, ExL Practice Development

What exactly should you be doing as part of your CDD enquiries of clients, and what exactly is a source of wealth enquiry?

This session will explore:

  • What is CDD precisely?
  • How can I do it quickly and efficiently - EID&V?
  • What is source of wealth enquiry?
  • What records and evidence do I need?
  • When do I stop?

Morning Break

11:10am-12:10pm: SRA - Are You Ready for an SRA visit?

Joanna Morris, Consultant

The SRA are planning more on site visits this year and your firm may be one of the chosen ones. A risk-based approach and compliance with the MLR should be something you are doing every day. Everything should be in place to ensure compliance - firm-wide risk assessment, policies controls and procedures for example.

But are they up to date and in line with what the SRA expect you to have in place?

This session will look at:

  • What happens when you get notice of a visit
  • What will the SRA be looking for
  • What does good and bad look like
  • Themes identified for non-compliant firms
  • How to ensure your firm is compliant

12:10pm-1:10pm: Sanctions & AML - What, Where & How

Rebecca Atkinson, Howard Kennedy LLP

This session will cover:

  • What sanctions are, what they are designed to do and who issues sanctions
  • Which sanctions matter - the UK, EU, UN and US and their effect on your insurance
  • How to ensure sanctions compliance- when to check, who to check and how to check including reverse sanctions checks
  • Brief overview of licencing regime
  • What the latest position with sanctions is and in particular Russian sanctions
  • The cross over between sanctions and the anti-money laundering regime

Break for lunch

2:00pm - 3:00pm: Practice Wide Risk Assessments & Client Matter Risk Assessments

Joanna Morris, Consultant

In 2023 the SRA put a lot of emphasis on the requirement to get your practice wide risk assessment (PWRA) and also client/matter risk assessments in order. In the SRA Annual AML Report the SRA say they have seen some improvements in the PWRA with most firms now having them in place but not as up to date and compliant as they should be. In the same report, they also stated that from the 1245 file reviews completed in the reporting year, 51% of the client/matter risk assessments seen were ineffective. It is now time to get things in order.

This session will cover:

  • The requirements to have these risk assessments in place
  • The National Risk Assessment (NRA) and the SRA Sectoral Risk Assessment
  • What a compliant PWRA should look like
  • Why client/matter risk assessments are vitally important
  • Good practice on risk assessments

Afternoon break

3:15pm-4:15pm: UBO’s - Whose Heartbeat?

Trevor Hellawell, ExL Practice Development

As part of your CDD enquiries you must identify, and possibly verify, the individuals behind the organisations you represent.

This session will explore:

  • Who is a ‘beneficial owner’?
  • Who else might we have to identify?
  • Must we verify the identity of all of them?
  • Can we rely on the PSC registers?
  • Register of Overseas Entities update
  • Understanding the overall structures and control mechanisms

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.