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Anti-money laundering compliance for law firms

Anti-money laundering compliance for law firms

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Published by Ark Group
Prepare for regulatory change in 2013/14:
Benchmark your firm’s current AML practices.
Prepare for regulatory change in 2013/14:
Benchmark your firm’s current AML practices.

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Published by: Ark Group on Jan 21, 2013
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02/04/2013

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ONE-DAY CONFERENCE|28 FEBRUARY 2013|LONDON
B  o  o  k   b  e  f   o  r  e   
1  4  
t  h  
 D  e  c  e  m  b  e  r   a  n  d    
s  a  v  e   £  1  4   9  
4 easy ways to register
+44 (0)20 7549 2535
events@ark-group.com
www.ark-group.com
Or see back page for mailing details
I am delighted to return as the chair of this conference. Changes inEuropean anti-money laundering regulations are widely anticipated totake effect during 2013/14 which makes this conference very timely. Notonly 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 discussexisting and new practices as well as exchange their views.
Ian Smith
, Barrister,
11 Stone Buildings
        ”
A word from our chair...
Prepare for regulatory change in 2013/14:
Benchmark your frm’s current AML practices
A one-day intensive conference designedto ensure you:
Prepare for the
»
regulatory change
that is certain to happen in 2013/14 asa result of a
strengthening
of the
FATF recommendations
Know what to expect from a
»
money laundering intervention
– and whyyou want to avoid one – as explained by an
SRA intervention agent
Deal with
»
higher-risk jurisdictionsInstil compliance training
»
from day one – find out how lawyers take adifferent ethical standpoint in the results of a
study from NottinghamTrent University
Find out what implications the
»
Shah vs. HSBC
case will have on moneylaundering
reporting
Get an in-depth practical look at
»
risk-based client due diligence
andfind out how to produce a
written risk assessment
Expert contributions andstrategic insights from:
evonshires
solicitors
COLPLINE
YOUR COMPLIANCE PARTNER
 Anti-money launderingcompliance for law firms
presents the 9th
Sponsored by:
 
CONFERENCE
MORE INFO
WHY THIS EVENT?
| 
TEL 
+44 (0)20 7549 2535
| 
E-MAIL 
events@ark-group.com
The strengthening of the
Financial Action Task Force (FATF)Recommendations
in February 2012 will undoubtedly lead to afollow-on
change in the anti-money laundering regulations
ata European, and then national, level by the end of this year.Taking place in February 2013, the 9th incarnation of ManagingPartner’s
Anti-money laundering compliance for law firms
 conference could not be more perfectly timed to provide seniorlaw firm Money Laundering Reporting Officers (MLROs) withthe information they need to
plan and prepare effectively forimplementation of the new rules
. The conference will be openedby an intervention agent of the regulator who will talk through thebehaviours and oversights that have typically landed law firms inhot water and explain why you definitely want to avoid any risk ofbecoming the subject of a money-laundering investigation.
Be the first to know what to expect
New rules are one thing, but as anyone responsible forcompliance will know, it is the
practical interpretation
of theregulations that is key. Past experience has shown that any givenrule could have as many different interpretations, in terms ofpolicies and procedures, as there are law firms to implement it.So don’t miss this
timely opportunity to benchmark
your firm’spractices in client due diligence (CDD) and reporting.
What are otherfirms doing?
This conference, whichannually draws a large crowdof the most senior MoneyLaundering Reporting Officersin the legal services sectoroffers a vital opportunity for law firms to
come together to workout the technicalities
of putting the new money-launderingrules into place in practice within the unique context of the lawfirm environment, where busy fee earners must concentrateon charging out the maximum number of billable hours. Theconference will also address the unique subject of the lawyerand his/her views on ethics – hear from
John Taylor
, author of
Forensic Accounting
about the results of a study he conductedwith
Nottingham Trent University
which reveals that lawyerstend to take a different ethical standpoint from as far back as lawschool. Find out what this means for your
anti-money launderingtraining programmes
and how you can instil the importance ofcompliance in your junior lawyers from day one.The most critical point at which you can avoid dealing with riskyindividuals and businesses is of course during the client take-on stage. But even at the highest levels, it is recognised that itis impractical for a firm to have to check out every client in fulldetail. Instead, it is advisable to take a risk-based approach. Buthow do you identify the key risk factors and write a written riskassessment? How do you deal with high profile clients, such asroyalty, where, nevertheless, you still have to show that you havetaken due diligence? At the February 2013 conference, high-scoring speakers
Sue Mawdsley
from
Legal Risk
and
PeterDerrick
from
Ogier
will take you through these questions via twoworkshop sessions which will cover both the theory andthe practice. And as you would expect, the 2013 event will also cover topicalissues that are not part of but are related to anti-money launderingincluding
international sanctions
and theBribery Act. Furthermore, youcan hear how the
Shah vs.HSBC
case has impacted onmoney-laundering reporting.Don’t be left behind when it comes to anti-money laundering bestpractice. Book your place today to hear from mid to large sizedlaw firms about what the new money laundering regulations
 meanfor you
.
Very relevant to current developments. Very  interesting – vital info.
        ”
Feedback from last year 
Ideas for improvingcompliance procedures – helpful and informativeday.
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 yourhours, 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 refreshments09:30
Chair’s opening remarks
Ian Smith, Barrister,
11 Stone Buildings
 PREPARING FOR CHANGE09:40
Revealing the key lessons for law firms from an intervention agentof 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 PERSPECTIVE11:30
Getting to grips with the increasing complexity ofinternational sanctions
Sanctions compliance is forming an increasingly important part of firms’ anti-money laundering (AML)/counter terrorist finance (CTF) programmes. Recentyears have seen a proliferation of sanctions regimes used as foreign policytools; added complexity in EU sanctions; increasingly aggressive enforcement(particularly in the US) and overlapping extra-territorial regimes which leavetraps 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 DILIGENCE13:40
PRACTICAL SESSION | Demonstrating a risk based approach toanti-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 diligence
Getting 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 REPORTING15:20
Suspicious Activity Reports
Lawyers have an obligation to make Suspicious Activity Reports but when shouldyou 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 CORRUPTION15:50
Understanding how the Bribery Act (ABC) links to the Proceeds ofCrime 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 alsobe viewed as one form of money laundering, and perhaps the type that manyfirms, with property practice groups, are most likely to encounter. Mortgagefraud is generally classified as ‘application’ or ‘identity’ fraud and can lead tolosses for the vendor’s advisers as well as the purchaser’s. What additionalmeasures should be taken beyond the normal client due diligence (CDD)processes to safeguard against the losses that many firms have sufferedfrom property fraud, and when might fraud, or attempted fraud, need to bedisclosed 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

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