Anti Money Laundering Compliance For Law Firms

1

Book before 15th January 2010 to claim your 20% early bird discount

one-day conference

23 February 2010, London

Managing Partner Events presents the 6th

To claim your CPD hours for the conference, please quote ANS/ARCO

Anti-money laundering compliance for law firms Keeping abreast of developments and addressing the practicalities of compliance

Expert contributions:

A one-day event designed to help you:

» 23 Essex Street

» » » » » » » » »

» Berwin Leighton Paisner LLP » Bird & Bird LLP » Byrne & Partners » Denton Wilde Sapte LLP

Keep abreast of HM Treasury’s Review of the Money Laundering Regulations Review the Law Society’s updated anti-money laundering practice note Understand privilege and how privilege applies in the context of reporting Manage the practicalities of CDD and ongoing monitoring or compliance Address the issues with beneficial ownership and reliance Hear real life practical scenarios with applying the risk-based approach Prepare SARs more efficiently and effectively Hear the latest money laundering case law Audit and document compliance within the AML regulations

» HM Treasury

Delegate comments from previous years' events:

» Kingsley Napley LLP

“A really good event and the best of all recent conferences on this topic.”

» Legal Risk LLP

“Excellent. Good, frank debates.” “A very good opportunity to hear about other firms’ policies, and problems and to

» Olswang LLP

discuss items of mutual interest.”

» SOCA

instructive for the MLRO of a slightly smaller firm.”

» Taylor Wessing LLP

“I found the chance to hear what larger firms are actually doing ‘on the ground’ very “Thank you to all involved in making the event happen. Excellent all round.” “Highly useful, a wealth of useful information and guidance. A great opportunity to speak to others and make comparisons and an excellent forum for networking with AML counterparts.” This brochure has been printed on Environmentally Friendly Paper from FSC accredited Forests’

Researched by:

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Anti-money laundering compliance for law firms

Keeping abreast of developments and addressing the practicalities of compliance

WHY THIS EVENT? Compliance with money laundering obligations remains a high priority for law firms. The possibility of being used to assist with money laundering poses many risks for firms, including criminal and disciplinary sanctions for firms and individual solicitors and civil action against the firm and individual partners. Now that the Law Society’s updated anti-money laundering practice note has received formal approval from HM treasury, the SRA and the courts will now need to have regard to the practice note when considering whether a solicitor's conduct was reasonable in relation to allegations of money laundering, failing to report suspected money laundering, and failure to comply with the requirements of the Money Laundering Regulations 2007. •

Are you therefore satisfied that your firm is complying with its statutory obligations?

•

Are you aware of the latest developments in this field?

•

Do you realise how serious the implications are if your current systems are inadequate?

Managing Partner’s Anti-money laundering compliance for law firms conference will not only address the key issues and challenges law firm MLROs, risk and compliance professionals face but it will also keep you abreast of the developments within this field.

HIGHLIGHTS INCLUDE: » » »

HM Treasury’s Review of the Money Laundering Regulations 2007 including a summary of the Call for Evidence responses and The Government’s proposed response to the evidence received and potential changes The Law Society’s updated anti-money laundering practice note with a particular focus on the area of privilege An extended and interactive panel discussion on the practicalities of implementing the Money Laundering Regulations with particular attention being paid to ongoing monitoring or compliance, beneficial ownership and reliance

With speakers from HM Treasury, The Law Society’s Money Laundering Task Force, Barristers’ Chambers and a range of leading firms, this event will provide you with the latest anti-money laundering policies, procedures and best practice to safeguard you and your firm.

ADVISORY BOARD This event has been validated and researched with a broad range of money laundering reporting officers, risk and compliance professionals from across the legal profession. We are grateful for the ideas they have provided us with for the speakers and the programme content. In particular our special thanks go to the following for their invaluable input: Christopher Vigrass, Partner and Director of Risk Management, ASHURST LLP Clive Cutbill, Consultant & MLRO, WITHERS LLP Suzie Ogilvie, Head of Anti-Money Laundering Compliance, FRESHFIELDS BRUCKHAUS DERINGER LLP Juliet Tainui, Director of Risk, ADDLESHAW GODDARD LLP Tom Arrowsmith, Head of Risk Management & Compliance, OLSWANG LLP

tel: 020 7549 2500

fax: 020 7324 2373

e-mail: eve

AGENDA: Tuesday, 23 February 2010 09:00 Registration and refreshments 09:30

CHAIR'S OPENING REMARKS Sue Mawdsley, Partner, Legal Risk LLP

09:40 HM Treasury’s Review of the Money Laundering Regulations 2007 » A summary of the received responses to the Call for Evidence on how the regulations are designed and how they work in practice in terms of effectiveness, proportionality and engagement » The Government’s proposed response to the evidence received » Potential proposed significant changes » Next steps regarding a further consultative process during 2010 Keith Davis, Policy Adviser, Money Laundering, Financial Crime Team, HM Treasury

GROUP DISCUSSIONS 14:50 Adopting a risk-based approach to compliance This informal and interactive session will enable delegates to discuss the issues in small groups

10:20 The Law Society’s updated practice note on anti-money laundering » A brief refresher on The Law Society’s anti-money laundering practice note and updated amendments » When does advice become a transaction? » How does privilege apply in the context of reporting? » What are privileged circumstances? Charles Proctor, Partner & MLRO, Bird & Bird LLP 11:00 Morning coffee break

» Real life practical scenarios of applying the risk-based approach and determining what is an acceptable risk » Optimising the effort in adopting a risk-based approach to ML » Refocusing the risks that lie behind proceeds of crime involved in transactions » Civil liability, reputational risk and the ethical dimension » Enhanced, simplified due diligence and the risk-based approach Amasis Saba, Compliance Manager, Berwin Leighton Paisner LLP Martin Baker, Risk Management & MLRO Partner, Taylor Wessing LLP

11:30 An update on underlying crimes such as fraud, corruption and tax evasion that impact on money laundering » An update on fraud, corruption and tax evasion law » What new types of suspicious activity and crimes are there and where are they taking place? » The interaction between the Proceeds of Crime Act and fraud, corruption and tax evasion law Michael Potts, Partner, Byrne & Partners 12.10 Money laundering recent case law update » An overview of recent case law on money laundering » What changes have occurred? » What are the things to watch out for? Jonathan Fisher QC, Barrister, 23 Essex Street

15.30 Afternoon coffee break 16.00 Handling suspicious activity reports » Real life examples where firms have had to make SARs » Dealing with issues such as privilege, anonymity and exposure to client confidentiality breaches » How can firms prepare SARs more efficiently and effectively? » What does SOCA want from a SAR? How can firms interact better with SOCA? » What benefits have SARs produced for the legal profession? Stephen Gentle, Partner, Kingsley Napley LLP Paul Evans, Director, Intervention, SOCA 16.40 Documenting and auditing compliance activities

12.50 Networking lunch break PANEL DISCUSSION: 13.50 Practical issues around the implementation of the Money Laundering Regulations Please note, this panel has been extended to allow additional time for any new issues that may arise in the lead up to the event » Managing the practicalities of CDD and ongoing monitoring or compliance » What’s expected of the partners and fee earners in terms of ongoing monitoring? » When must CDD be obtained and are firms adhering to the new provision on timing?

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» Managing the costs, time constraints and lack of data with beneficial ownership; examples of practical scenarios » Does reliance work? How many firms allow for reliance or rely on other firms? » Obtaining independent verification, particularly concerning » certain types of corporate entities » Assessing proportionality and effectiveness with the Money Laundering Regulations » An opportunity to discuss any new issues, reviews or guidance Tom Arrowsmith, Head of Risk Management & Compliance, Olswang LLP Amasis Saba, Compliance Manager, Berwin Leighton Paisner LLP Martin Baker, Risk Management & MLRO Partner, Taylor Wessing LLP

» Is there a need to document and audit your firm’s compliance activities? If so, what’s the best approach? » The practicalities of conducting an audit in terms of resources etc. » Determining what to focus on to document how your firm is doing, what problems you’ve hit and where the risks lie Andrew Cheung, Director of Compliance, Denton Wilde Sapte LLP 17.20 CHAIR'S CLOSING REMARKS 17.30 Close of conference

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Anti-money laundering compliance for law firms

One-day event

23 February 2010, London

Keeping abreast of developments and addressing the practicalities of compliance

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1017-10



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