Overview:

The Financial Intelligence Centre (FIC) is actively conducting inspections on accountable institutions specially those registered as Trust and Company Service Providers (TCSP’s).

A key focus of these inspections is ensuring that all partners/directors and compliance officers fully understand their obligations under FICA legislation, including the content and implementation of their Risk Management and Compliance Programme (RMCP).

The FIC expects firms to provide detailed explanations of their internal processes, particularly the risk-based approach they follow to ensure compliance.

Many of you have attended the initial induction sessions, but significant updates have been made since the first RMCP drafts were completed. We have recently finalized the annual review of the RMCP, incorporating insights from the FIC’s inspections and newly issued guidance documents.

This session is crucial for all partners and compliance officers to stay fully compliant with FICA legislation and ensure their RMCPs are up to date with the latest requirements.

• To stay informed on the latest FIC inspection insights and guidance
• To ensure your RMCP is fully compliant with FICA legislation • To be prepared to explain your firm's risk-based approach and processes during FIC inspections.

Content:

During the update session, I will be discussing the new guidance notes issued by the FIC, the recent changes made to the RMCP, and the reasons behind these updates. I will walk you through the revised RMCP to ensure that you have a clear understanding of the processes to follow, enabling you to stay fully compliant with the latest requirements.

• Partners/directors of Accountable Institutions registered as TCSP’s, legal practitioners, property practitioners and high value goods dealers.
• Compliance officers responsible for implementing FICA compliance