Anti-Money Laundering Compliance for Law Firms 2018

Since the implementation of the 4th Money Laundering Directive in the UK last June and the Criminal Finances Act on 30 September 2017, legal professionals with anti-money laundering reporting responsibilities have required more clarity about the practical applications of these laws. This conference will provide you with essential updates from The Law Society in order to help you strengthen your current processes.

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Details

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Agenda

Download the brochure for this event

 

09:00 Registration and refreshments

09:30 Chairperson’s opening remarks

Stephen Gentle, Partner, Simmons & Simmons

 

09:40 AML: Legal Sector Affinity Group

  • Pooled account provisions
  • Customer due diligence: clarification on client accounts
  • Requirements for screening of employees
  • Update: 5th amending directive

Amy Bell, Director, Amy Bell Compliance and Chair of the Money Laundering Task Force, The Law Society

 

10:25 Simplifying Know Your Client (KYC) and anti-money laundering (AML) using technology

  • What the regulations say about Electronic Verification and utilising technology
  • Enhanced Customer Due Diligence (CDD) - sanctions, politically exposed persons (PEPs) and ongoing monitoring
  • AML and KYC challenges faced within the legal sector
  • Tools available to assist with the challenges of AML and KYC in the workplace

Steven Taylor, Head of New Business, SmartSearch



11:00 Morning coffee break

 

11:20 Criminal Finances Act: Failure to prevent tax evasion

  • HMRC guidance notes – explanation and impact
  • Strict liability defence – understanding what's available
  • What training is needed?

Jason Collins, Partner - Head of Litigation, Regulatory & Tax, Pinsent Masons

 

12:00 Cybercrime and anti-money laundering 

  • Common vulnerabilities and exposures
  • Look out for the warning signs of fraud
  • Conducting a cyber risk assessment

Stuart Peck, Director of Cyber Security Strategy, ZeroDayLab

 

12:40 Effectively using technology as part of your Know Your Client (KYC) process

  • How technology can positively contribute to AML compliance
  • What are the products and which should you select?
  • Getting the best out of your new services

Barry Vickery, General Manager of Corporate Services, InfoTrack

 

13:00 Networking lunch



14:00 AML and processes: Regulation 21 (Internal controls)

  • Staff screening and interaction with size of practice
  • Board level and named individuals
  • Internal audit function, what does it mean?

Sue Mawdsley, Partner, Legal Risk



14:40 Session details coming soon

 

15:20 Afternoon networking break

 

15:40 Options for independent audit function of internal controls

  • Pros and cons of internal vs external auditor
  • What would an ideal auditor look like? Traditional audit or privileged report?
  • UK requirements vs regulators in other jurisdictions
  • Maximising the benefit of the audit report
  • Lessons learned from voluntary audits

Sarah Mumford, Solicitor, Legal Risk and Compliance Specialist

 

16:15 Sanctions update

  • Office of Financial Sanctions Implementation – guidance August 2017
  • Policing and Crime Act 2017: update and practical considerations
  • OFSI: Monetary penalties for financial sanctions breaches
  • SRA: Frozen asset list (September 2017)

Susannah CogmanPartner, Herbert Smith Freehills

 

PANEL DISCUSSION

16:50 What are the challenges of ongoing monitoring of customer due diligence (CDD)

  • Revisiting customer due diligence, knowing your customer
  • Reviewing providers and procedures
  • Overcoming the tensions between GDPR, AML and CDD
  • Developing a basic control for risk and governance
  • Providing evidence and showing your working

Moderator: Coming soon

Panellists:

Sarah Lucey, Head of Risk and Compliance, Weil, Gotshal & Manges

Tania Longva, Head of Risk and Compliance, Reynolds Porter Chamberlain

Stuart Peck, Director of Cyber Security Strategies, ZeroDayLab

 

17:20 Chair's closing remarks

Stephen GentlePartnerSimmons & Simmons



17:30 Close of conference

Full Description

Since the implementation of the 4th Money Laundering Directive in the UK last June and the Criminal Finances Act on 30 September 2017, legal professionals with anti-money laundering reporting responsibilities have required more clarity about the practical applications of these laws.

Returning in February 2018, Anti-Money Laundering Compliance for Law Firms 2018 will provide you with essential updates from The Law Society in order to help you strengthen your current AML processes and ensure compliance within your firm.

The 2018 agenda will also tackle the ongoing challenges of customer due diligence (CDD) in light of upcoming GDPR requirements. How should client data be managed in order to satisfy the requirements of both laws?

Why attend?

  • Gain essential updates from The Law Society on recently published guidances notes
  • Get answers to your questions concerning the practical implementation of the 4th Money Laundering Directive
  • Explore the ongoing challenges associated with customer due diligence (CDD) processes and the need to comply with GDPR from May 2017
  • Identify your AML vulnerabilities and protect your firm from cybercrime
  • Get practical advice on how to train your staff effectively to prevent tax evasion
  • How are you ensuring your firm complies with Regulation 21? Find out all you need to know
  • Stay updated with developments in sanctions

Hear from AML experts, including:

  • Amy Bell: Chair of the Money Laundering Task Force
  • Sue Mawdsley: Partner, Legal Risk
  • Jason Collins: Partner - Head of Litigation, Regulatory & Tax, Pinsent Masons
  • Susannah Cogman: Partner, Herbert Smith Freehills

 

Who should attend?

This is a must-attend event for Money Laundering Reporting Officers based in law firms, directors or heads of compliance, directors or heads of risk and managing partners or CEOs at legal services businesses.

Now in its 14th year, this year programme has been designed to help you gain clarity on how to practically implement new AML provisions, and ensure your firm is compliant.  

Early Bird Rate

£645 +VAT per delegate. Save £100 when you register before 5 January 2018

Standard Rate

£745 +VAT

 

Top industry speakers

Sue Mawdsley

Partner, Legal Risk

Sue Mawdsley is a solicitor and partner in Legal Risk LLP with over 30 years’ experience. She advises law firms and property professionals on risk management, claims prevention and regulatory compliance.  She has particular expertise in anti-money laundering and financial crime; advising firms on AML problems and compliance strategies. Sue has extensive experience of developing bespoke policies, controls and procedures for law firms, as well as helping them undertake risk assessments.

Sue has been recommended in Legal 500 2017 and is a ranked lawyer in Chambers UK 2018, noted as being "incredibly knowledgeable, practical, very focused, and just really helpful."

Amy Bell

Head of Risk and Compliance, Quality Solicitors and Chair of the Money Laundering Task Force, The Law Society

Amy Bell is a Compliance Consultant with a passion for helping firms adapt to the changing legal landscape. She has 12 years’ experience in working with law firms, and this year launched Amy Bell Compliance Limited.

Through consultancy with partners and training, she provides support for everyone in the firm to understand compliance and how to apply risk management principles to improve client service and deliver efficiency.

She is the chair of the Law Society's Money Laundering Task Force, where she represents the Solicitors profession at Government and in Europe. She is also the author of the Law Society's Anti-Bribery Toolkit.

Amy Bell is a Compliance Consultant with a passion for helping firms adapt to the changing legal landscape. She has 12 years’ experience in working with law firms, and this year launched Amy Bell Compliance Limited.

Through consultancy with partners and training, she provides support for everyone in the firm to understand compliance and how to apply risk management principles to improve client service and deliver efficiency.

She is the chair of the Law Society's Money Laundering Task Force, where she represents the Solicitors profession at Government and in Europe. She is also the author of the Law Society's Anti-Bribery Toolkit.

Stephen Gentle

Partner, Simmons & Simmons

Stephen specialises in assisting corporate and individual clients in complex fraud and financial regulatory matters, frequently with multi-jurisdictional aspects.

He has particular expertise in advising in anti-bribery compliance, investigations and proceedings (generally with an overseas focus) and Financial Conduct Authority matters (with a particular emphasis on insider dealing, market misconduct and international regulatory issues). Stephen is also experienced in money laundering prevention, investigations and prosecutions. He has expertise in Competition and Markets Authority cartel investigations. His international criminal practice covers extradition proceedings, sanctions breaches and mutual legal assistance requests where he acts for corporations, individuals and governments.

Alongside his fraud practice he has extensive experience in advising members of government and law enforcement agencies in sensitive enquiries where independent expertise in criminal law is required.

Stephen also has expertise in the criminal aspects of the restraint and recovery of the proceeds of crime both in its domestic and cross border aspects.

Stephen is in Band 1 of the 2017 Chambers UK guide to the legal profession (Financial Crime (Corporates), Financial Crime (Individuals and Cartel Investigations) and is described as “very strategic”, “calm under pressure” and “very able”. He was recognised as Who’s Who Legal’s Business Crime Defence Lawyer of the Year 2016 and Global Investigations Review (Investigations 2017) describes him as “one of the foremost experts in Europe”.

Sarah Lucey

Head of Risk and Compliance, Weil, Gotshal & Manges

Sarah Lucey is the Head of Compliance at Weil and sits on the firm’s Global Ethics Committee and the London Compliance Committee. Sarah is based in the firm’s London office and is responsible for the London Compliance function advising the practice on all aspects of professional conduct, legal and regulatory compliance and governance and risk management. Sarah has fourteen years commercial law firm experience, including ten years in risk management and compliance at large international and magic circle firms both in London and New York and has advised clients on matters including SRA compliance, anti-money laundering and anti-bribery and corruption.

Since joining Weil in 2016 Sarah has also advised a number of the firm’s pro bono clients on aspects of SRA authorisation and regulation and more generally on compliance policies and procedures and best practice.

Sarah Mumford

Independent consultant and Former Best Practice Partner, Bevan Brittan and Board Member, Legal Compliance Association

Susannah Cogman

Partner, Herbert Smith Freehills LLP

Susannah specialises in financial crime and related regulatory work. She advises financial institutions, corporates and professional services firms in connection with sanctions, anti-money laundering, corruption and fraud issues, both contentious and non-contentious. She has considerable experience of conducting internal investigations for clients, as well as advising on external investigations by the SFO, FCA and others, and related disputes.  She has been appointed as one of the UK's first anti-corruption monitors for the purposes of a company's settlement with the World Bank and Serious Fraud Office.  Susannah has a particular specialism in sanctions work and has advised extensively in relation to the Iran, Russia/Ukraine, Syria and Libya sanctions regimes.   

A recognised expert in the field, Susannah is ranked in band 1 for corporate crime in Chambers UK 2013-2017, described as having "extraordinary knowledge and ability", "a very steadying presence", "technically superb", "a true expert in her field" and "a 'talented' and 'astute lawyer,' who 'knows what corporate clients need'".  Legal 500 UK identify her as a Leading Individual for corporate crime, and Global Investigations Review named her in their list of "40 Under 40 – the world's leading investigations specialists" in April 2014.

Susannah speaks and publishes widely on anti-money laundering, anti-corruption, and sanctions topics.  She is a member of the UK Law Society's Money Laundering Task Force (which advises the profession and the Law Society on AML matters), the City of London Law Society corporate crime committee, and the ICC UK Corporate Responsibility and Anti-Corruption Committee.  Susannah is a consultant editor of the Lloyds Law Reports: Financial Crime series. 

Barry Vickery

General Manager of Corporate Services, Infotrack

Barry Vickery is General Manager of Corporate Services and has over 20 years’ experience in providing innovative solutions to the corporate market in the UK and Australia. Barry joined the InfoTrack UK team in June 2016 and is responsible for the strategic and operational direction of the Corporate Services division.

 

 

 

Jason Collins

Partner - Head of Litigation, Regulatory & Tax, Pinsent Masons

Jason is a Partner in the Risk Advisory Services business group, where he leads the Litigation, Regulatory and Tax teams.

Jason is one of the leading tax practitioners in the UK. He specialises in representing corporate and individual clients who are the subject of a tax audit – and resolves complex disputes with HM Revenue & Customs in all aspects of direct tax and VAT, as well as tax treaty and State aid disputes involving other jurisdictions. 

Where necessary, he handles litigation before the Tax Courts and all the way through to the Court of Justice - with a particular expertise in class actions and "Group Litigation Orders".

He also represents clients under criminal investigation, including representation at "dawn raids" and interviews under caution.

Jason is a leading expert on Country-by-Country reporting, FATCA and the OECD's Common Reporting Standard, advising companies, financial institutions and individuals across the world on the application of automatic exchange of information, with a particular focus on trusts, investment companies and funds.

Jason is a Committee member of the Chartered Institute of Taxation and is consistently top-ranked in Legal 500 and Chambers, where he is described as a "fantastic name in the market"

Steven Taylor

Head of New Business, SmartSearch

Tania Longva

Head of Risk and Compliance, Reynolds Porter Chamberlain

Stuart Peck

Director of Cyber Security Strategy, ZeroDayLab

From a background of threat intelligence, social engineering and incident response, Stuart Peck heads up Cyber Security Strategy for ZeroDayLab. Stuart regularly delivers threat briefings to Fortune 100/FTSE 100 executives and directors throughout the world. 

Stuart is passionate about educating organisations on the latest threat actor techniques and how to combat them, including raising the cost of the attack through pragmatic risk based defence and response strategies.

Stuart's key areas of expertise include: the dark and deep web, social engineering, incident response, , threat hunting, OSINT, and cyber-crime. He has also lead investigations in many major breaches, including recent global ransomware outbreaks.

Stuart is a regular contributor to many leading blogs including Security Affairs, The State of Security and is published in many leading Journals including the ISSA.