| Price: |  |
PC Holders EARLY BIRD £295 + VAT = £354 Non PC Holders EARLY BIRD £395 + VAT = £474 Members of Risk and Compliance and Law Management Section EARLY BIRD £195 + VAT = £234 PC holders working for NFP EARLY BIRD £145 + VAT = £174 |
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| Start Date: | |
15-05-2012 |
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| CPD hours: | |
6.50 |
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| Event type: | |
CPD Seminars |
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| Location: | |
113 Chancery Lane London |
** Get EARLY BIRD rates until 1st April
In 2012 the Financial Action Taskforce and the European Commission will be issuing new requirements for the private sector in fighting financial crime. The financial crime symposium 2012, hosted by the Law Society of
England and Wales, is your chance to discuss the future of anti-money laundering compliance, with the legislators and policy makers drafting the new requirements.
Why attend?
This symposium is essential for those who want to understand why the financial crime requirements are currently framed as they are and would like to be involved in influencing how they will be framed in the future. This is an event for those who want to ensure that their compliance efforts really do make a difference. The symposium brings together policy makers, law enforcement academics and experts in the industry, to look at whether there is evidence to support the current policy approaches or whether a fresh approach is required to effectively combat financial crime. Our speakers from government and law enforcement agencies, will share with you the criminal methodologies, risks and loopholes that they are seeking to address. The tailored sessions will give delegates the opportunity to share their practical experiences and suggest solutions for incorporation into the new requirements.
Topics to be covered:
• Whether financial crime laws are properly targeting the risks in your sector
• Assessing the risk of financial crime
• The implications of the new Data Protection Regulation on financial crime prevention
• Whether current supervisory approaches are self-reinforcing
• Whether due diligence requirements can really be applied proportionately
Who should attend?
• Money laundering reporting officers and people responsible for financial crime prevention from the financial; legal; accountancy; gaming and high value sectors
• Policy officials; regulators; supervisors and law enforcement involved in developing or enforcing financial crime policies, laws and regulations
• Academics with an interest in financial crime
PROGRAMME
08.45 - 09.15 Registration
09.15 - 09.30 Welcome
09.30 - 10.30 Plenary 1: Future directions on anti-money laundering and counter terrorist financing
This session will provide an update on the new FATF standards, the European Commission’s consultation on amending the 3rd Money Laundering Directive and the UK’s strategy to deal with organised crime, including the creation of the National Crime Authority.
Speakers
• Valerie Schilling, Principal Administrator – Financial Action Taskforce;
• Tobias Mackie, DG, Corporate Governance and Social Responsibility Unit - Internal Market European Commission;
• UK speakers to be confirmed
10.30 - 11.30 Breakout session A: Targeting Financial Crime Prevention
A1) Legal Professional Privilege - safeguard or smokescreen?
This session will consider the role of legal advisers in the fight against financial crime and whether there is evidence that criminals are seeking to hide behind the shield of legal professional privilege.
• Tobias Mackie, DG, Corporate Governance and Social Responsibility Unit - Internal Market European Commission;
• Suzie Ogilvie Head of AML – Freshfields Bruckhaus Deringer LLP
• Hennie Verbeek-Kusters - Head of the Netherlands Financial Intelligence Unit;
A2) Luxury goods, art and antiques – do financial criminals really target high value dealers?
This session will consider the evidence that financial criminals are targeting high value dealers to commit a range of financial crimes and how such businesses can protect themselves.
• Michael Lyttle Head of Money Laundering Policy - HMRC
A3) Is financial crime prevention in the gambling sector more than a matter of chance?
This session will consider the financial crime risks across the gambling sector, including casinos, online gambling and betting shops and how existing procedures within these businesses can be leveraged to meet those risks.
• Clive Hawkswood, Chief Executive - Remote Gambling Association
• Detective Superintendent Matthew Parkes – Metropolitan Police
A4) Is the risk-based approach sufficiently tailored for small to medium sized professional services firms?
The majority of designated non financial businesses are small to medium sized firms. This session will consider the efficacy of the risk-based approach in ensuring that the financial crime prevention obligations placed on such firms are proportionate.
• Felicity Banks, Head of Business Law – Institute of Chartered Accountants England and Wales;
• Garry Carter – Institute of Certified Bookkeepers;
• Nicola Boulton, Partner – Byrne & Partners
A5) Information obligations in the banking sector - a critical tool in the fight against financial crime or information overload?
With new sanctions being applied on a weekly basis, new requirements for wire transfer originator data and increased interest from regulators on enhanced due diligence processes, this session will consider whether the information obligations on the banking sector are effective or a disproportionate paper collection exercise.
• Valerie Schilling, Principal Administrator – Financial Action Taskforce
• Dr Justine Walker – British Bankers Association
11.30 - 12.15 Plenary 2: Privacy and Data Protection – are they casualties in the fight against crime?
This session will consider how proposals for the new European Directive on Data Protection will operate alongside the increasing obligations to collect and share personal data across jurisdictional boarders and how Financial Intelligence Units are managing their data protection obligations with respect to suspicious activity reports.
• Jonathan Bamford, Head of Strategic Liaison, UK Information Commissioner’s Office
12.15 - 13.15 Networking Lunch
13.15 - 14.00 Plenary 3: The anti-money laundering industry - an effective public / private relationship or an unhealthy case of regulatory capture?
Does a compliance team actually add value to a firm and aid in the effective prevention of crime or do they simply gold-plate legal and regulatory requirements, generating increased activity and reports within the firm merely in an effort to stave off regulatory sanction?
Do the self-reporting processes, thematic reviews and monitoring visits by law enforcement and regulators actually result in real criminals being caught, or do they simply create an industry of private police who negotiate a slap over the wrist for technical breaches while significant criminality is left unchecked so that future co-operation is not undermined.
These are just some of the challenging questions being considered during this session.
Speakers
• Professor Jackie Harvey Northumbria University,
• Bob Ferguson Head of the Financial Crime and Intelligence Department in the Enforcement and Financial Crime Division of the Financial Services Authority;
• Stephen Gentle Partner – Kingsley Napley LLP
14.00 - 15.00 Breakout session B: Can client due diligence be effective and proportionate?
B1) Are all PEPs really high risk?
This session will consider whether the move to requiring enhanced due diligence on all politically exposed persons is really an effective use of compliance resources.
• Robert Palmer - Global Witness
• Emile van der Does de Willebois Financial Integrity Unit - World Bank
• Dr Justine Walker, Director, Financial Crime (Sanctions and Bribery) – British Bankers Association
• Rothchild (Speaker to be confirmed)
B2) Trusts - a legitimate business tool or a launderers dream?
This session will examine the evidence for the misuse of Trusts by money launderers and whether the current approach to due diligence on trusts is really targeting the areas of risk.
• Clive Cutbill Consultant – Withers Worldwide LLP
• Wendy Walton Partner – BDO
B3) Beneficial ownership - what is the justification?
As new requirements for countries to create company registers and ensure greater access to beneficial ownership information come into force, this session will consider why beneficial ownership information is so important in the fight against financial crime and whether the current approach is the most effective.
• Valerie Schilling, Principal Administrator – Financial Action Taskforce
• Alison Matthews Associate Director of Compliance – Irwin Mitchell LLP
• Detective Superintendent Matthew Parkes – Metropolitan Police
B4) Equivalence - a political minefield or a critical requirement for proportionality?
A level playing field of regulation is a key criteria for applying many of the simplification measures permitted by the risk-based approach. This session will consider how countries and markets are assessed as being equivalent, why such lists are important for those in the regulated sector, and whether you can simply apply a blanket approach to equivalence.
• Karen Silcock, Partner - Deloitte
• Tobias Mackie, DG, Corporate Governance and Social Responsibility Unit - Internal Market European Commission;
• Amasis Saba, Compliance Manager – Berwin Leighton Paisner LLP
15.00 - 15.15 Refreshments
15.15 - 16.15 Breakout session C: Regulatory approaches and consequences
C1) Global financial crime policies - effective compliance or a race to the gold plated top?
The requirement for global financial crime polices is given increased importance in the reviewed FATF standards. This session will consider the challenges faced by legislators and firms in getting a balance between harmonisation and jurisdictional and firm specific requirements.
• Tobias Mackie, DG, Corporate Governance and Social Responsibility Unit - Internal Market European Commission;
• David Norman, Global Head of AML – Betfair
C2) Jurisdiction of choice - do stringent anti-money laundering and anti-corruption laws promote or harm legitimate competition?
Is it realistic to expect the same level of financial crime prevention law and practice in the UK and South Sudan? Does the continued increase of financial crime prevention laws and regulation actually make a jurisdiction a better place in which to do business, if no assessments are completed of the costs to business and the effectiveness of the results? These are just some of the questions to be considered in this session.
• Professor Michael Levi – Cardiff University
• Patrick Moulette, Head of the Anti-Corruption Division - OECD
C3) Sanctions - fighting crime or pursing political ends?
The past 12 months has seen a proliferation of sanctions globally, resulting in a curtailing of fundamental rights of many individuals and causing significant compliance burdens on legitimate businesses. This session will examine the aims behind the sanctions regime, how such regimes are being administered and whether they are effective in meeting their stated aims.
• Zia Ullah, Partner Regulatory Law – Pannone LLP
• HM Treasury (speaker to be confirmed)
C4) Suspicious activity reporting regimes - which approach makes the most difference in the fight against crime?
The concept that a regulated entity makes a report to law enforcement if they are suspicious of money laundering is a fairly simple one. However the manner in which that report is made and what happens after the report is made, both from the perspective of law enforcement and the regulated entity can vary widely from one country to another. This session will examine three different reporting regimes.
• Hennie Verbeek-Kusters Head of the Netherlands Financial Intelligence Unit;
• James Russell Mitra, Head of the UK Financial Intelligence Unit
16.15 - 17.00 Plenary 4: Risk assessments - Evidence based or a best guestimate?
In austere times businesses are encouraged to better effectively target resources in accordance with a risk-based approach to enable them to meet their financial crime prevention obligations in a proportionate way. This session will consider how governments, regulators and regulated businesses actually assess risk, where they get their information from to do so and how effective information sharing is on risk issues.
Speakers:
• Bob Ferguson Head of the Financial Crime and Intelligence Department in the Enforcement and Financial Crime Division of the Financial Services Authority
• David Artingstall Senior Consultant - John Howell and Company Ltd.
• Serious Organised Crime Agency (speaker to be confirmed)
17.00 - 17.15 Closing remarks
17.15 - 19.00 Drinks reception
| Attachment | Size |
|---|---|
| Financial Crime Symposium brochure.pdf | 538.64 KB |
For more information about Law Society events e-mail: events@lawsociety.org.uk