AML Risk Management for Realtors, Developers, and Real Estate Attorneys

This seminar and due diligence workshop will provide AML training specific to the real estate and development sector, one of the largest contributors to the Cayman Islands economy. The training will include a refresher training session on money laundering via the real estate sector, a hands-on due diligence workshop exercise to help participants better understand various scenarios and panel discussion by AML and industry experts.    

For all staff in the real estate and development sector – including directors and owners, as well as real estate attorneys and bankers.

Featuring presentations from Paul Byles, Director, FTS, and panel discussions featuring Claudia Brady, Head of Compliance & Enforcement, Department of Commerce & Investment, and Olivaire Watler, Attorney-at-Law, Watler Law.

Date:

Monday March 21^st 2022, 9am to 11:30am

Registration Fees

CI $210 / USD $250

Agenda

9:00 to 9:05

Welcome

9:05 to 9:35

AML Real estate refresher: AML Risk Management and the Real Estate Sector, by Paul Byles, Director, FTS

9:35 to 10:25

Due Diligence Workshop: working through various real estate scenarios, facilitated by Paul Byles

10:25 to 10:40

COFFEE BREAK

10:40 to 11:00

Presentation of key findings for the real estate sector from the most recent national Risk Assessment, by Claudia Brady, Head of Compliance & Enforcement, Department of Commerce & Investment

11:00 to 11:30

Q & A Discussion with Paul Byles, Claudia Brady, and Olivaire Watler

OUR SPEAKERS:

Claudia Brady, Head of Compliance and 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.

Olivaire Watler, Attorney-at-Law, Watler Law

Mr. Watler is a Caymanian Attorney-at-Law and Notary Public who founded his law firm WATLER LAW in 2016 after decades of experience at Senior Associate, Partner and of Counsel level at two offshore magic circle law firms.

His wide-ranging practice includes advising on all aspects of real estate conveyancing.

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.