Chartering contemporary compliance

It is rare to hear people speak fondly of AML/CFT, but it is an area where practitioners need to be mindful of their ongoing obligations. With the second round of audits having taken place for most law firms, a new suite of regulations and plenty of legislative change pending, it is timely to refresh and remind yourself of what is expected by the Department of Internal Affairs. 

As with the previous workshops we have offered, we want to ensure that practitioners have the opportunity to seek guidance and discuss openly challenges and issues with implementing AML/CFT processes and controls in their practices. We also want to canvass and update amendments to the legislation since the last workshops and take a look at what it in the pipeline. Topis we intend to cover include:

• Due diligence requirements (standard or enhanced) – level, risk and how far do you go?
• Supervisors’ increased expectations, and managing supervisor engagement (including onsite inspections)
• Developments following the Financial Action Task Force (FATF) evaluation, including updated legislation and takeaways from the second round of audits
• Recent warnings, and targeted reviews by the DIA
• New regulations package and preparing for changes taking effect in June 2024.

With numbers strictly limited, these workshops enable lawyers and compliance officers to raise ongoing issues and to discuss ways of addressing them with an AML/CFT expert. As with past workshops, the focus will be on how to practically apply the legislation and meet compliance obligations in an effective and efficient way that recognises the particular risks of different practices.

Who Should Attend?

This workshop will be relevant to almost all lawyers in practice but it will be of particular importance to senior partners/directors/principals and practice managers, especially those in small to medium-sized practices. 

Learning Outcomes

• Be provided with an opportunity to raise and workshop issues relating to AML/CFT compliance experienced in your own practice and discuss possible solutions.
• Refresh and update your knowledge of due diligence requirements (standard or enhanced).
• Gain insights into the supervisors’ increased expectations, and receive guidance for managing supervisor engagement (including onsite inspections).
• Become apprised of developments following the Financial Action Task Force (FATF) evaluation, including updated legislation and takeaways from the second round of audits.
• Receive information regarding recent warnings, and targeted reviews by the Department of Internal Affairs (DIA).

Presenter Details

Fiona Hall, Barrister and Solicitor