Finally, we have the answers everybody has been waiting for.
On late Friday afternoon, the FIC issued a guidance note that clarifies exactly who should be registered as an Accountable Institution, and which clients must be subjected to the Customer Due Diligence (CDD) procedures.
Please join me on Friday morning the 25th of August when I will take you through all the requirements.
As this guidance document now provides finality on the issue of whether your firm is an Accountable Institution or not, it is of utmost importance to register with the FIC as soon as possible, as there are penalties involved for late registration.
Agenda for session (1.5 hours)
• Registration requirements
o Trust and Company Service provider (TCSP) definition
o Which part of your firm must register?
o How to register?
• Customer due diligence requirements
o On which clients should CDD be performed
o On going CDD
o Inability to perform CDD
o Documents to use during the CDD process
• Brief summary of the different reporting requirement.
Agenda for session 2 (Free session) (No time limit)
• Questions and answers
• Demonstration of a Risk Management Compliance Programme (RMCP) that you must implement in your firm if you are required to be
registered.
Managing partners or anyone that will be responsible for the registration of the firm with the FIC
Session 1: 9 am to 10.30 am.
Session 2: 10.45 am until all the questions have been answered.
Please note that if you can’t attend this session the recording will be made available on our self-paced online training platform Akhanani Training after the session.
