AML/CFT: Key considerations for the Fund Industry

Description 

The training is part of the Fund Governance Masterclass, a certification programme with the following topics:

• Module 1 - Funds & IFMs: Governance fundamentals
• Module 2 - Portfolio management 
• Module 3 - Risk management
• Module 4 - Fund Administration, Depositary and Valuation
• Module 5 - AML/CFT: key considerations for the Fund industry *
• Module 6 - The role of the auditor
• Module 7 - Marketing, distribution and transfer agency
• Module 8 - ESG developments for Fund Directors
• Module 9 - Technology challenges for Fund Directors
• Module 10 - Fund Governance in Practice

Thanks to their professional experience in the Investment Fund Industry, our experts will cover not only the fundamentals of the prevention of money laundering and the regulatory environment from a Luxembourg perspective but also how to deal in case of suspicion of money laundering or terrorist financing. This training will be interactive and practical examples will enhance the learning.

This module gives a brief overview of the Anti-Money Laundering Legal & Regulatory Framework in Luxembourg, including the professional obligations applicable to entities involved in funds and the control framework which must be in place to comply with these. 

The role of the RR/RC will be explained. The module will focus on specific key operational challenges, the evolving requirements and expectations of Boards and types of failings identified by supervisors and auditors on AML/CFT controls. There will be an opportunity to ask questions on this vast and often complex subject.

* This module alone may not qualify as an annual AML/CFT training. 

 
Main learning objectives

The main features of the program are:

• Overview of the Legal & Regulatory Framework in Luxembourg and the professional obligations
• Investment Fund Industry requirements for Board members and on the RR/RC roles, obligations and cooperation
• Luxembourg AED expectations
• Overview of AML oversight 
• Operational issues and types of shortcomings identified by the regulator (CSSF), the FATF and independent statutory auditors
• Practical insights on reporting transactions, typical indicators 
• Hot topics