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TOPIC
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Description of Speech
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Opening Remarks
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Opening of the General Session
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.......................................................... |
1
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Key Note Address: The Impact of the War Against Tax Evasion on the Future of Offshore Financial Services
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2
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Bermuda’s Compliance Landscape: Updated Legislation, Guidance Notes, EU Equivalence and the OECD
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New legislation has expanded the scope of Anti-Money Laundering regulation beyond licensed institutions and has given the BMA the power to levy fines to enforce regulatory compliance. What must
the newly regulated need to consider and what additional steps must existing players take? Also to be discussed, the BMA is working towards EU Equivalence; the speakers will discuss why this an
important goal, and how it will affect international business in Bermuda.
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3
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The Key Components of a Risk-Based Compliance Program |
Risk analysis by institutions has become a central principle of modern compliance regimes. This session will explain what is meant by a "risk-based approach" to compliance, and will offer practical
guidance on how to implement such a program.
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4
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Session 1: Risk-Based Compliance: Client Review |
Client review begins when the client first walks in the door and continues throughout the life of
the relationship, whether formally on informally. Here’s how to carry out this critical task well. |
4
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Session 2: Transaction Monitoring |
Learn how financial institutions monitor client transactions, and the tools they employ to spot
fraud and money laundering in cross border transactions. |
5
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Developing a Plan to Address Identified Risks |
Following on from the concepts addressed in the preceding talk, we turn to techniques and approaches available to compliance officers and senior managers to remove or mitigate the potential pitfalls
identified by their compliance program. The speaker will consider how known risks can be better controlled and how to prepare to deal with emerging and horizon risks.
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6 |
The Challenges of Managing Compliance Across a Global Institution
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7
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Anti-Corruption Compliance for Insurance Intermediaries
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Even the best program cannot be 100% effective. When something goes wrong – and it will eventually –inspections, production orders, investigations, fines and bad press may follow. The speakers
will discuss possible scenarios where enforcement powers are exercised and how senior management and compliance personnel need to react to minimize harm to their institution, their innocent
clients and themselves.
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8
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The America – Bermuda Relationship in Financial Services – a Town Hall session
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This session will be a “Town Hall” meeting discussing the current Washington perspective ensuring plenty of interaction with the audience. |
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TOPIC
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Description of Speech
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Opening Remarks
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TIEAs and the Stop Tax Haven Abuse Bill
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1
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Session1: Addressing PROSPECTIVE Compliance Challenges in the Legal, Accounting
and Real Estate Industries
Session 2: Effective Compliance for Downstream Intermediaries:
Insurers, Hedge Funds, and Securities Dealers
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Each session will discuss best practices, approaches and policies, monitoring and auditing, cross-border implications and relationships with regulators in these industries which have lately fallen under
the umbrella of AML regulation. |
2
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Combating the Financing of Terrorism |
CFT regulation now runs parallel to AML in Bermuda. Our speaker will answer the key questions: How does financing of international terrorism occur? What indicators should we be aware of? How are
funds transferred to finance terrorism? What sources of information can we rely on for help?
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3
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International Cooperation Among Regulated Entities |
The speakers will discuss extant and prospective challenges to be met in order to achieve better cooperation within the regulated sector worldwide. What are the impediments to gaining “equivalent”
AML status for Bermuda and other offshore financial centres? How do we ensure that foreign financial institutions and regulators behave reasonably in their demands for information? Does
competition stifle cooperation among institutions engaged in cross-border transactions?
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4
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The Financial Intelligence Agency, its Powers and Procedures
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5 |
Panel Discussion: Compliance Cases and Hands-on Experience |
Our panel of seasoned senior compliance officers will discuss actual compliance cases they have dealt with and consider what this hands-on experience has taught them about the regulatory, legal and
fiduciary challenges facing the regulated sector.
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6 |
Closing Session |
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7
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Tales from the Dark Side
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