Financial Awareness2018-10-10T08:18:01+00:00

THIS EVENT HAS NOW FINISHED

Financial Awareness

Date: 3rd October 2018

Time: 09:30 – 13:00

CPD: 3 Hours

Price: £89 + vat

Conference Topics

This half day conference is presented by Joanna Morris

Introduction

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 were passed on the 23rd June 2017 and in force from the 26th June 2017 bringing changes to our AML regime.  We have also had the Criminal Finance Act brought into force on 30th September 2017.

With the Financial Action Task Force (FATF) due to visit the UK in Spring 2018 it is essential to be up to date with all things AML.  Getting it wrong can be very costly including fines and imprisonment.

AML

  • What is money laundering and where did it all begin
  • Who launders money
  • Key legislation including an overview of the updated Proceeds of Crime Act
  • Money Laundering Regulations 2017:
    • Risk assessment requirements
    • Policies, controls and procedures
    • The changes to client due diligence (CDD)
    • The extended definition on a PEP
    • Beneficial owners
    • Record keeping
    • Training
  • The future – 5MLD?

‘Most solicitors and law firms protect the money their clients entrust to them. The consequences of failing to meet this obligation can be severe’ – SRA Risk Outlook 2017/18

The SRA Accounts Rules – mention these words and everyone will start to shudder at the thought but this course will help you overcome the minefield of these rules.  The cost of getting it wrong in relation to the SRA Accounts Rules can be devastating including fines from the SRA and the striking off of principles by the Solicitors Disciplinary Tribunal so it is essential that everyone dealing with them is trained to a high standard.

This will take you or your staff back to basics by covering:

  • Setting the scene – a history of the accounts rules and an update of the risks in the SRA Risk Outlook 2017/18 relating to the finance department
  • What makes accounting in law firms so different
  • The role of the COFA and the recording and reporting of breaches
  • Double entry book keeping principles
  • A refresher of the key rules including:
    • The principles
    • The future – SRA and the proposed new accounts rules