Actions and Detail Panel
JFSC - Overview of Funds Section of the AML/CFT Handbook (morning)
Wed 29 March 2017, 09:30 – 12:00 BST
Following publication of Section 14 of the AML/CFT Handbook the Financial Crime Policy (FCP) team, in conjunction with the Policy team, are presenting an overview of the new section.
Please note: this session is very similar to the event of 15 November 2016 which formed part of the JFSC consultation regarding the proposal to introduce a Funds specific section to the AML/CFT Handbook.
Section 14 outlines the JFSC's expectations regarding the application of the existing AML/CFT regulatory framework to funds and fund operators both regulated and unregulated.
The session will highlight several areas upon which industry submissions were received, including:
- Scope - application of the guidance to regulated and unregulated funds and fund operators
- Differences in the application of CDD measures by funds and fund operators
- Practical application of CDD, including risk factors and higher risk indicators
- Avoiding duplication of effort, including simplified CDD, reliance and delegation
The feedback paper to Consultation Paper No. 8 2016 may be accessed by clicking here. .
This session comprises a 60 minute presentation, followed by a 75 minute “drop-in surgery” where FCP and a funds specialist from the Policy team will be available to take specific questions.
No charge is being made for this event.