U.K. Sanctions and Anti-Money Laundering Act 2018: Legal Implications and Compliance Considerations
Date: Thursday, December 06, 2018
Time: 10:00 AM – 11:15 AM EST | 03:00 PM – 04:15 PM London
04:00 PM – 05:15 PM Amsterdam
Regardless of whether they originated at the U.N., E.U., or OSCE, the U.K. currently derives all of its economic sanctions regimes from European law. However, since the historical U.K. decision to leave the E.U. (or ‘Brexit’), it has been unclear how exactly the U.K. will implement sanctions policy after the divorce.
The new Sanctions and Anti-Money Laundering Bill (or SAMLA), which was passed by Parliament in Spring 2018, provides the U.K. powers to impose, update, and lift sanctions once the U.K. leaves the E.U. in March 2019. But will the U.K. sanctions landscape stay the same, or is it likely to change drastically? What are the new compliance implications, if any, for U.K. and global companies?
In this SanctionsAlert.com webinar, our speakers will untangle the SAMLA web and provide insight into how the U.K. sanctions might (or might not) change when it is implemented next year.
You will learn:
- The implications of SAMLA’s powers and penalties;
- What the future holds regarding cooperation with E.U. and International allies, including potential divergence from other sanctions regimes;
- ‘Designation by description’ and what that will mean from a compliance perspective;
- A break down of Government guidance provided thus far;
- Details of any expanded reporting obligations; and
- Potential licensing opportunities and/or changes to policy.
Sign up today! Tell your friends, clients, customers and colleagues about it.
SanctionsAlert webinars conduct audience polls that will give you vital benchmarking data so you can measure your anti-money laundering compliance against others.
Registered attendees will receive a Certificate of Attendance to demonstrate required AML training to auditors, and regulators.
Pupil Barrister (and Former Head of Investigations at Standard Chartered)
Outer Temple Chambers in London
Jeremy coming to the UK Bar, Jeremy worked in international banking compliance for 7 years. As Standard Chartered Bank’s Head of Investigations for Europe, and then its Senior Anti-Bribery and Corruption (AB&C) Advisor, he investigated civil and criminal allegations against both clients and staff, advised senior management on legal and regulatory matters, and oversaw the evolution of controls to tackle fraud and corruption. Thereafter, he was the Criminal Risk Officer for Bank of Montreal in EMEA, building out the bank’s financial crime control programme and advising senior management on matters including the Criminal Finances Act, MiFID II and the Senior Managers’ Regime.
Before moving into banking, Jeremy spent four years at the UK regulator – the Financial Services Authority – as an intelligence and investigations specialist. During that time, he oversaw enquiries involving allegations of fraud and corruption, advised on financial crime concerns as Deputy MLRO, and built the intelligence basis for successful prosecutions including the £250m HBOS Reading high-risk lending fraud.
Global Chief Compliance Officer
AXA Corporate Solutions
Andy is the Global Chief Compliance Officer of AXA Corporate Solutions, part of AXA XL, and is currently based in Paris and London. He leads a network of compliance resource in 10 countries overseeing compliance with regulatory requirements across the company’s international network and, amongst other responsibilities, ensures effective controls around international sanctions, anti-fraud, bribery, corruption and anti-money laundering, as well as data privacy requirements. Previously, Andy led the Corporation of Lloyd’s team specialising in regulatory non-compliance resolution, and providing sanctions and financial crime compliance oversight and guidance to the Lloyd’s Market. During this time, Andy built a market-facing regulatory compliance capability for Lloyd’s, assessing and testing the market’s financial crime compliance standards.