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AML Risk Management for Realtors and Developers
July 6 @ 9:00 am - 11:50 amUSD$150
This seminar provides AML training specific to the real estate and development sector, one of the largest contributors to the Cayman Islands economy. With AML regulations introduced a few years ago to cover Designated Non-Financial Business and Professionals (DNFBPs) which includes real estate activity, this updated seminar captures the latest trends and development which impact effective risk management in the sector. It will also provide insights into the approach taken by the sector’s regulator, the DCI, during onsite inspections.
For all staff in the real estate and development sector as well as directors, owners, bankers, and real estate attorneys.
9:00 to 9:05 – Welcome remarks
9:05 to 9:25am – The economic impact of money laundering and refresher on recent typologies in AML risks in real estate and development, by Paul Byles, Director, FTS.
9:25 to 10:00 – Trends and lessons learned from onsite inspections and what you can do to minimise your risk exposure, by Claudia Brady, Head of Enforcement, DCI.
10:00 to 10:10 – Coffee break
10:10 to 10:40 – Managing your legal and AML risks in real estate transactions, by Huw St J. Moses OBE, Managing Partner and Linda DaCosta, Partner at HSM Chambers.
10:40 to 11:20 – Panel Q & A
11:20 to 11:35 – Online Test
11:35 to 11:40 – Closing Remarks
Date: Tuesday, July 6th 2021, 9:00 am to 11:40 am
Registration Fees: USD$150
Paul Byles, Director, FTS
Paul Byles is Director of FTS, which provides regulatory and management consulting services. He is an experienced economist and finance professional having worked in the financial services industry for 25 years. He is a former head of regulatory and economic consulting services of a big four consulting firm. He is a former Head of Policy at the Cayman Islands Monetary Authority where he drafted the original Guidance Notes on Prevention and detection of Money laundering for the Cayman Islands and many formal regulatory policies and guidelines issued by CIMA for the financial services industry.
He is author of the book ‘Inside Offshore’ which focuses on the reputation of the Cayman Islands as a financial services jurisdiction and author of ‘Offshore Financial Services: a BVI text’, published in 2014. He serves as an independent director on a number of financial services and local operating firms. He holds a Masters Degree in economic development from the London School of Economics, and a Master Degree in Economics from Birkbeck College in the UK.
Claudia Brady, Head of Enforcement, DCI
Head of Compliance and Enforcement at the Department of Commerce and Investment since 2016
Prior to that was a member of the Royal Cayman Islands police Service for 28 years. Various responsibilities in the RCIPS included Head of the Financial Crime Unit, Intelligence Unit and the Family Support Unit, the last position held was Commander for the district of George Town with day to day responsibility of operations relating to safety and security of the residents and businesses within the district.
Current responsibility is the management of the enforcement team to ensure businesses are compliant with the various laws, i.e. Trade and Business Licensing Law, Local Company Control Law, Liquor License Law, Music and Dancing Law and Special Economic Zone Law among others. Is also responsible for the day to day management of the team to regulate businesses for AML/CFT requirements under the Anti-Money Laundering Regulations.
Linda DaCosta, Partner at HSM Chambers
Linda DaCosta has vast knowledge in various areas of Cayman Islands laws. She manages our property team in supporting residential and commercial property sales, financing, contracts and disputes. Linda also has a wealth of experience in regulatory matters, employment law, contractual disputes, family law, will and probate matters and trust disputes.
Linda joined HSM in February 2018 and has been practicing in the Cayman Islands for over 20 years. She has extensive litigation experience having appeared before the Planning Tribunal, Labour Tribunal, Appeals Labour Tribunal, Summary Court, Grand Court and Court of Appeal on various aspects of the Law including contentious trust disputes, divorces, custody of children actions, company winding-up proceedings, employment claims and civil litigation generally. Linda expanded her skills and became a Fellow of the Chartered Institute of Arbitrators in 2016 and is currently the Chairperson for the Cayman Islands branch.
Huw St J. Moses OBE, Managing Partner
Huw Moses’ practice includes all aspects of litigation, insolvency and restructuring. He is also known for Employment Law, including advising employers on compliance with the Labour, Pensions and Health Insurance Laws, contract drafting and the handling of employment and other contractual disputes.
Huw joined the offshore law firm of Appleby in 1993 and was subsequently elected partner in 1997 before becoming Managing Partner of the Cayman office in 2003. Huw also served as the Managing Partner of the firm’s British Virgin Islands office between 2004 and 2007. In 2006 Huw was appointed to Officer of the Order of the British Empire (OBE). In 2012 he established the HSM Group. Huw was the Chairman of the Labour Appeals Tribunal (2007-16); Secretary/Treasurer of the CI Law Society (2012-18); and is a Founder Trustee of the CI National Recovery Fund (CINRF). In 2014 Huw founded the Intellectual Property Caribbean Association (IPCA) on which he serves as a Director. In 2019 he was appointed Chairman of the CI Civil Service Appeals Commission.