As a testament to Cayman’s financial services industry’s highly developed compliance culture, Global Compliance Solutions, Ltd. recently announced the company’s first annual anti money laundering seminar and panel discussion, set for 21 November, from 9am to 5pm at the Brasserie’s Cricket Square conference facility.
GCS recently opened its offices in June 2005 and is located in the AALL Bank Building in George Town. It was established to assist in the fight against money laundering and terrorism, concentrating on global challenges and international initiatives related to compliance matters.
To go beyond basic anti money laundering training, GCS has created a full-day seminar to include keynote speaker Mr. Juan Llanos, Chief Compliance Officer- Remesas Quisqueyana, an international money service business based in New York.
Mr. Llanos writes and speaks frequently in various financial services industry publications and events, and is a member of the editorial committee of Lavadodinero.com, the world’s largest Spanish language AML resource provider. A segment covering local legislation will also be offered at the seminar.
Representatives from the Financial Reporting Authority, the Bankers’ Association, the Cayman Island Monetary Authority and various other industry professionals will be present, contributing to the interactive panel discussions.
This seminar has been designed to provide an interactive forum to discuss current compliance and AML issues that may affect day-to-day business performance.
Karen O’Brien, managing partner, GCS states, ‘I think it is essential to provide an AML forum such as this for the senior management and compliance officers who are interested in what is really going on. I believe there is a shortage of opportunity for senior staff to hear about developing issues that may have a lasting effect on the way Cayman’s financial services sector is shaped and what consequences and costs can be expected in future years.’
Documentation for regulatory purposes and a Certificate of Attendance will be issued. Lunch will be provided and a cocktail reception at the Brasserie restaurant will follow the programme.
The Cricket Square conference facility is located on Elgin Avenue, 4th floor. This session is appropriate for all levels of management and compliance staff.
Karen O’Brien is a former detective with the Toronto Police and also a former RCIP officer with extensive experience in fraud and financial crime. At GCS, O’Brien will provide consulting on the prevention and detection of corporate and financial related fraud, as well as conduct internal investigations and background research.
WHO THEY ARE
GCS provides contract services to corporate administration firms, banks, insurance companies, trusts, mutual funds and securities/brokerage firms.
These services include: the creation or critical review of required AML policies and procedures; customised assistance with day to day compliance functions and conducting reviews of all customer relationships to measure standards of compliance against regulatory requirements for customer due diligence and record keeping. GCS also provides AML training which can be specialised for the jurisdiction and the type of business conducted by the client.