Regulatory seminar Wednesday

A regulatory seminar scheduled for tomorrow at The Ritz-Carlton, Grand Cayman will incorporate the recent global financial turmoil into the day’s agenda.

The seminar will feature Tim Ridley, former chairman of the Cayman Islands Monetary Authority; Ross Delston, former US Federal regulator and co-chair of the American Bar Association’s International Anti-Money Laundering Committee and consultant Paul Byles.

‘The world financial turmoil will certainly be a backdrop of some of the key regulatory issues to be discussed and will help to illustrate some of the issues’, said Mr Ridley.

The seminar is being presented by FTS, a newly established training solutions company with a focus on seminars and training for the financial services industry.

Mr Ridley’s presentation will offer insights into what institutions can expect and should not expect in their dealings with the CIMA. ‘There are definitely a few things that industry should avoid doing in its interaction with CIMA and we hope to highlight some of these common mistakes,’ he said.

Mr. Delston will also be using the current financial markets turmoil in his hands-on presentation on how local financial institutions should prepare for an onsite inspection from CIMA. Mr. Delston, who is a recognised anti-money laundering expert, will take participants through each stage of an inspection and also deal with post inspection issues.

Mr. Byles said Mr Ridley’s experience would bring very valuable insights for the seminar participants in terms of how an organisation can best maximise its relationship with CIMA.

‘From what I have seen of his presentation, it will certainly be hard hitting and candid in some areas and I believe this will be refreshing for the participants and will help them to better understand what makes CIMA tick,’ he said.

For more information, call 623-6712 or [email protected] .

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