Analyzing Implementation Concerns and Challenges of the CDD Final Rule

Duration: 60 Minutes
The webinar covers the newly released rule relating to the identification and validation of the control and beneficial ownership of legal entities. The new rule expands the requirements of existing AML program by adding the ongoing requirement of control/ownership oversight in the institutions Customer Id Program. From now until its full implementation, May 2018, covered financial institutions are required to develop risk based approaches to ongoing monitoring and implementation of the parties that hold sway over a legal entity that has an account established with it. While there are times in which a third party may be relied upon for such information and monitoring, it is the covered institutions responsibility to identify with whom it does business.
Customer Due Diligence Final Rule
Product ID: 508591
Objectives of the Presentation
  • Adapting current customer and beneficial ownership identification procedures to suit the Final Rule
  • Understanding the shifting relationship and the included participants in the changing regulatory world
  • On-boarding and customer relationship training in identifying and collecting relevant data
  • Developing robust oversight of beneficial ownership and CDD to improve client transparency
  • Formulating an integration plan for the new requirements and training relevant departments
  • Validating and testing the amended and developed procedures and addresses shortfalls and potential weaknesses
Why Should you Attend
Complying by the mandatory deadline with the U.S. Treasury's Final Rule on Beneficial Ownership, effective May 11, 2018, is a top priority for financial institutions. The added CDD obligations in the final rules are a challenge to many compliance professionals who must begin collecting additional customer information and maintaining current account relationships. This essential webinar will provide up-to-date, critical compliance information to prepare your institution for the implementation of the CDD requirements.

Areas Covered
  • The new rule and obligations under it
  • Developing identifying procedures and policies for compliance with the amended rule
  • Exemptions to the new rule
  • How to integrate the new rule into existing procedures
    • Onboarding procedures and training
    • Data collection, validation and review
  • Validation and testing of the new rule
Who will Benefit
  • Compliance Personnel
  • Industry Counsel/Consultants
  • On-boarding and Relationship Managers
  • Bank Executives and Directors
$300
Recorded Session for one participant
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Live Session - How it works
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  • Presentation handouts in Downloadable PDF format will be updated on your OCP Account 24 hours prior to the live session
  • Login to the audio conference on the scheduled date and time
  • Get answers to your queries through interactive Q&A sessions via chat at the end of the session
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Warren R. Markowitz is an attorney and veteran compliance officer. He has been an active participant in the world wide financial sector since 1994. Mr. Markowitz has provided hands on, direct advisory services to domestic and international financial providers in their dealings with federal and state oversight authorities and self-regulatory organizations, as both a lawyer and an adviser through consulting and technology advisory firms with whom he maintains relationships. His real world experience with regulatory bodies has enabled him to represent his clients with a perspective on resolving matters or concern and avoiding new ones.
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