This programme will explore the key critical and dedicated EU legislative package associated with the EU Anti-Money Laundering Strategy, approved by the EC, EU Parliament and Council, entailing closer monitoring of compliance by a centralised EU AML agency, encompassing banks, fund management and insurers. It will offer an overview of the complex nature of the EU legislative process and the key EU Institutions involved in the development of this revised and much scaled-up EU AML regulatory landscape, which will be applicable over 2025.
Topics will include the recent 5th Anti-Money laundering directive, establishment of new EU anti-money laundering authority with oversight powers over all financial entities and transposing AML strategy to the private sector, to embrace crypto-asset service providers and crowd-funding platforms, measures for high-risk 3rd-countries whose AML/CFT policies pose a risk to EU financial stability, streamlined Beneficial Ownership requirements and measures to combat misuse of bearer instruments, and the Anti-Tax Avoidance Directive III (misuse of shell companies).
Training Objectives
By the end of the programme, participants will:
• Have acquired a structured understanding of the current EU legislative landscape and priorities in relation to the EU AML legislative package
• Be conversant sufficiently in the broad details of the key pieces of current EU FS legislation to engage in a discussion with their professional peers, regulators and apply the knowledge in reviewing the impact on their business models, compliance expectations and obligations
• Have an in-depth knowledge of the role, scope and powers of the new AU AML Authority, to be based in Frankfurt
• Understand the EU Institutional decision-making process from the EC proposal stage on both legislative packages to ratification by the EU Parliament and Council
• Identify the various key provisions under the new EU AML legislative text that will have a direct impact on the firm’s compliance framework
• Identify the new requirements and challenges under the EU AML framework designed to strengthen cross-border monitoring of financial transactions
• Build an awareness of the modified roles of national supervisors and the EBA in the light of the creation of a new EU AML agency, with more assertive and direct supervisory powers
• Learn how the scaled-up harmonisation and coordination of AML supervisory practices in the financial and non-financial sectors will affect your business
• Develop awareness of how the EU intends to monitor transactions with third countries considered to be ‘high-risk’ jurisdictions.
• Be capable of anticipating questions and queries by the new EU AML Authority
Training Outline
• Background on EU AML measures up to the 5th Anti-Money laundering directive
• Role, scope and powers of the new EU anti-money laundering authority
• Broadening the criteria for assessing high-risk third countries and improving checks on transactions involving such countries
• 5th anti-money laundering Directive rules extension to trusts and similar legal arrangements the transparency rules and obligations applicable to legal entities, requiring Member States to identify and notify trusts or trust-like arrangements
• Regulation on AML/CFT, containing directly-applicable rules, including in the areas of Customer Due Diligence and Beneficial Ownership
Who should attend
• Chief AML officers
• CFOs
• Regulatory compliance officers
• National supervisors
• Financial services trade bodies
• Chief legal officers
• Internal ITC specialists
• Chief data officers
• COOs
Training Style
The programme is designed to deliver high-level knowledge and insights into the EU financial services regulatory agenda and developments. It will strive to enhance participants’ skills and knowledge via lectures supported by power-point presentations and practical examples. The training style is both training-focused, involving a combination of presentation and real-live examples, but also learner-focused, where participants are encouraged to raise questions, seek clarifications and share their opinions from their different perspectives and engage in an exchange of views and personal professional experiences.
CPD Recognition
This programme may be approved for up to 5 CPD units in Financial Regulation & AML. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
In-house Training
For groups within the same organisation, this course may be customised to meet any specific needs and delivered in-house.