FIAU Inspection Visit – Expectations & Preparations – 27 March

Compliance visits are a necessary part of the regulator’s function, proactively monitoring adherence to regulations. The webinar aims to help participants to understand and prepare for compliance visits by the FIAU and shall provide insights into what to anticipate during such visits and what is expected from Subject Persons. This workshop aims to alleviate concerns Subject Persons may have about compliance visits and empower them to enhance their processes for regulatory compliance.

Instructed by: Elizabeth Sammut Borg. in: Uncategorized

Seminar Description

Overview:

Over the past years, regulators have considerably stepped up their enforcement role, and this is evident from the hefty fines being imposed,  the publication of such fines, and the subject persons in question. The aim of this webinar is to provide Subject Persons an overview of the supervisory and enforcement function within the FIAU and how the compliance review process is carried out. The course shall further delve into the types of compliance visits carried out by the FIAU, the expected procedures and timelines of such visits. An overview of the most common findings as well as examples of best practices shall also be discussed during the course.

Topics

• What is expected from the Supervisory Authorities 

• • • The key objectives of an AMLCFT visit 
    • The process and timelines of the AMLCFT visit 
    • What to focus on and what to improve 
    • Administrative penalties  
    • Most common findings by the FIAU

Target audience

• Subject Persons
• Compliance officers
• MLROs
• Monitoring Functions
• Directors of subject persons
• Compliance executives
• Students wishing to pursue a career in compliance

Why should members/non-members attend:

Compliance visits are a necessary part of the regulator’s function, proactively monitoring adherence to regulations. The webinar aims to help participants to understand and prepare for compliance visits by the FIAU and shall provide insights into what to anticipate during such visits and what is expected from Subject Persons. This workshop aims to alleviate concerns Subject Persons may have about compliance visits and empower them to enhance their processes for regulatory compliance.