Compliance Essentials: AML and MiFID II in Practice

The AML/CTF updated law as well as the MiFiD 2 regulatory framework were introduced during the first semester of 2018, with extensive requirements compared to previous versions of relevant regulatory obligations. Investment firms found themselves needing to anticipate all these requirements with enhanced personnel training and the upgrade of existing internal control mechanisms to face, as efficiently as possible, the new challenges that may lead to a change of their entire business model.

The need of training for the personnel working in the finance and professional services sector has become imminent for them to be in position to face the new challenges and to contribute, depending on their role, to the adaptation and the operation of the organization, according to the existing and forthcoming regulation. In parallel, the role of the Compliance function evolves progressively, and it has become a new challenging career opportunity at global level.

Training Objectives

By the end of the programme, participants are expected to:

• Learn the Significance of Compliance
• Learn the Basics about Execution Venues
• Understand PRIIPS regulation
• Recognize the regulatory requirements for onboarding a client
• Recognize the steps for generating a risk-based monitoring schedule
• Learn the major regulatory requirements deriving from AML and MiFiD II

Training Outline

Significance of Compliance

• The definition of compliance
• The risk of non-compliance
• The duties of the Board of directors
• The duties and role of Compliance Officer
• Areas covered by the Compliance Function

Basics for Execution venues

• What is an execution venue?
• Execution of orders models
• Types of Orders
• What is the difference between executing and transmitting a transaction for execution?
• Differences between Brokerage and Dealing Room

The basics about PRIIPS

• General Introduction for the scope of PRIIPS
• What is assumed to be a PRIP
• Structure of Information provided to clients via KIDs

Understand Regulatory requirements for performing

• KYC procedures
• Appropriateness Test
• Suitability Assessment

Guidelines to set an effective Compliance monitoring schedule using Risk based approach

• What is a compliance monitoring schedule?
• What is the risk-based approach?
• Wolfsberg Group Questionnaire

MiFID II and Delegated Regulations effects on

• Safeguarding of client assets
• Pre and Post trade information to clients
• Investment Research
• Investment Advise
• Portfolio Management
• Best Execution
• Best Execution reporting requirements

Training Style

The programme is designed to deliver knowledge and enhance participants’ skills via short lectures and discussion sessions. There will be ample opportunity for delegates to benchmark experiences with industry peers and raise issues of most concern to their organisation, either confidentially or in open session.

Who Should Attend

The programme will benefit professionals within the finance and professional services sector, particularly:

• Management Personnel
• Compliance Professionals
• Administration, legal and internal audit professionals
• Professionals whose companies are regulated by CySEC