AML Regulation 35 Amendment - Effect of the Latest PEP Update (Apr 24)
Category: Law & Regulation and Compliance | Duration: 1hr | Tag: VODUK2424 | Type: Video | Course Level: Need to Know | Speaker: Lucy Brown | Date: 11/04/2024 10:00
Course Details
On the 10th of January 2024 an amendment to regulation 35 came in to force. Under this amendment a domestic Politically Exposed Person (PEP) can be considered to present a lower risk than a non-domestic PEP.
In this course Lucy Brown covers the following topics:
- What is the definition of a PEP
- Why they present a risk
- Identifying PEPs
- What having a PEP client means to the Firm
- Enhanced Due Diligence
- Ongoing monitoring of PEP status
CPD Course Speaker
Calathea Solutions Ltd
Lucy Brown
After initially working in a range of bookkeeping and accounting roles, Lucy took up a role in a team administering the £17 billion pension fund of one of the Top 3 UK banks. Later moving on to a project working with an international partner to scope a new pensions administration system. This work drew on expertise in:
• Workflow Management
• Process mapping
• Systems design
• Test design and implementation
• Interpretation of scheme rules and legislation
After a career break, Lucy went into practice as a bookkeeper, growing and developing a successful bookkeeping practice that she then sold. Whilst in practice as a bookkeeper, Lucy developed and implemented policy and processes to ensure that the business was compliant with all legislative requirements, including Anti Money Laundering legislation.
Having successfully sold the business, Lucy worked for one of the supervisory bodies supporting members to meet their legislative obligations and satisfy professional standards. In this role Lucy provided training, worked to raise awareness, and provided advice to a wide variety of members – alongside overseeing the mandatory penalty regime and developing an independent appeals process.
Lucy provides professional advice focusing on the following areas:
AML
Policy Development
Training
Workflow Analysis
Business Processes
• Workflow Management
• Process mapping
• Systems design
• Test design and implementation
• Interpretation of scheme rules and legislation
After a career break, Lucy went into practice as a bookkeeper, growing and developing a successful bookkeeping practice that she then sold. Whilst in practice as a bookkeeper, Lucy developed and implemented policy and processes to ensure that the business was compliant with all legislative requirements, including Anti Money Laundering legislation.
Having successfully sold the business, Lucy worked for one of the supervisory bodies supporting members to meet their legislative obligations and satisfy professional standards. In this role Lucy provided training, worked to raise awareness, and provided advice to a wide variety of members – alongside overseeing the mandatory penalty regime and developing an independent appeals process.
Lucy provides professional advice focusing on the following areas:
AML
Policy Development
Training
Workflow Analysis
Business Processes