ΠΕΡΙΓΡΑΦΗ

Financial services rules and regulations apply to all firms regulated by the DFSA. These rules and guidelines are intended to safeguard customers when they transact with an authorized firm and purchase a financial good or service, to stop the potential threats to financial stability from materializing and hurting the real economy, and to protect the integrity of the financial markets. 

Prudential and conduct of business, anti-money laundering and countering the financing of terrorism legislations are all part of the DFSA financial services regulations.

To fulfil their Continuing Professional Development (CPD) obligations, the DFSA mandates that all Senior Executive Officers, Compliance Officers, and MLROs of Authorized Firms complete a least 15 hours of obligatory training every 12 months. 

The purpose of this 15 CPD hours course is to provide an understanding about all the regulatory subjects imposed by the DFSA, and it was specifically developed for Authorized Individuals of DFSA-regulated enterprises.

ΣΚΟΠΟΣ ΣΕΜΙΝΑΡΙΟΥ

By the end of the programme, participants will:

• Understand the Key concepts about AML rules imposed on DFSA regulated firms.
• Learn the fundamentals of data protection.
• Take a look at the DFSA enforcement actions.
• Explain the DFSA’s conduct rules.
• Understand the DFSA’s expectations in outsourcing and operational resilience
• Apprehend the concept of corporate governance
• Identify the Board’s responsibility for compliance

ΣΕ ΠΟΙΟΥΣ ΑΠΕΥΘΥΝΕΤΑΙ

This course is beneficial to all:

• Senior Executive Officers
• Compliance Officers
• MLROs
• DFSA Regulated Firms

ΠΕΡΙΣΣΟΤΕΡΕΣ ΠΛΗΡΟΦΟΡΙΕΣ

Training Outline 

AML Awareness for DFSA Regulated Firms (add sanctions) 

Introduction

• Definition of Money LaunderingStages of Money Laundering
• The various red flags of money laundering
• AML Programs
• Customers using personal accounts to run businesses
• Assessing and Controlling AML Risks
• The criteria that constitutes a high-risk person, product or service, and geographic location
• High Risk Persons and Entities
• High Risk Products and Services
• High Risk Geographic Locations
• Recognizing and Reporting Unusual / Suspicious Activity
• Financial Action Task Force (FATF)
• Global Sanctions
• Office of Foreign Assets Control (OFAC)
• The role of OFAC and how an OFAC program should be implemented at the institution

 UAE National Committee 

UAE’S List Of Terrorist Individuals & Entities 

UAE AML Executive Office 

Applying  a Risk-Based Approach 

• The Risk-Based Approach

 Business Risk Assessment 

• Assessing Business AML Risks
• AML Systems and Controls

 Customer Risk Assessment

• Guidance
• Assessing Customer AML Risks

 Customer Due Diligence 

• Requirement to Undertake Customer Due Diligence
• Timing of Customer Due Diligence
• Customer Due Diligence Requirements
• Enhance Customer Due Diligence
• Simplified Customer Due Diligence
• Ongoing Customer Due Diligence
• Failure to Conduct or Complete Customer Due Diligence

 Reliance and Outsourcing 

• Reliance on a Third Party
• Outsourcing
• Money Service Providers

 Correspondence Banking, Electronic Fund Transfers and Audit

• Application
• Correspondent Banking
• Electronic fund transfers
• Audit

 Sanctions and Other International Obligations 

• Relevant United Nations Resolutions and Sanctions
• Government, Regulatory and International Findings

 Money Laundering Reporting Office 

• Appointment of a MLRO
• Qualities of a MLRO
• Responsibilities of a MLRO

 AML Training Awareness 

 Suspicious Activity Reports

• Application and Definitions
• Internal Reporting Requirements
• Suspicious Activity Report
• Tipping-Off
• Freezing assets

 General Requirements

• Groups, Branches and Subsidiaries
• Group Policies
• Notifications
• Record Keeping
• Annual AML Return
• Communication with the DFSA
• Employee Disclosures
• Decision Making Procedures

 Designated Non-Financial Businesses and Professions (DNFBPs) Registration and Supervision

• Guidance
• Registration and Notifications
• Request to Withdraw Registration
• Disclosure of Regulatory Status
• Whistleblowing

 Transitional Rules

• Application
• General
• Specific Relief – Ancillary Service Provider and DNFBPs

 Data Protection – DIFC

 Introduction And Scope Enforcement

• Title and Repeal
• Legislative Authority
• Date of Enactment
• Commencement
• Purpose of the Law
• Application of The Law
• Schedules
• Administration of The Law

 General Requirements

• Requirements for Legitimate and Lawful Processing
• Lawfulness of Processing
• Processing of Special Categories of Personal Data
• Consent
• Conditions of consent and reliance on legitimate interests
• Legitimate interests
• Accountability and notification
• Records of Processing activities
• Designation of the Data Protection Officer (DPO)
• The DPO: Competencies and Status
• Role and Tasks of the DPO
• DPO Controller Assessment
• Data Protection Impact Assessment
• Prior Consultation
• Cessation of Processing

 Joint Controllers and Processors

• Cessation of Processing
• Processors
• Processors and Sub-Processors
• Confidentiality

 Data Export and Sharing 

• Transfers Out of the DIFC: Adequate Level of Protection
• Transfers out of the DIFC in the Absence of an Adequate Level of Protection
• Data Sharing

 Information Provision 

• Providing Information where Personal Data Has Been Obtained from the Data Subject
• Providing Information Where Personal Data Has Not Been Obtained From the Data Subject
• Nature of Processing Information

 Rights of Data Subjects

• Right to Withdraw Consent
• Rights to Access, Rectification and Erasure of Personal Data
• Right to Object to Processing
• Right to Restriction of Processing
• Controller’s Obligation to Notify
• Right to Data Portability
• Automated Individual Decision-Making, Including Profiling
• Non-Discrimination
• Methods of Exercising Data Subject Rights

 Personal Data Breaches

• Notification of Personal Data Breaches to the Commissioner
• Notification of Personal Data Breaches to a Data Subject

 The Commissioner

• Appointment of the Commissioner
• Removal of the Commissioner
• Resignation of the Commissioner
• Powers, Functions and Objectives of the Commissioner
• Delegation of Powers and Establishment of Advisory Committee
• Codes of Conduct
• Monitoring of Approved Codes of Conduct
• Certification Schemes
• Certification and Accreditation
• Production of Information
• Regulations
• Funding
• Annual Budget of the Commissioner
• Accounts
• Audit of Commissioner
• Annual Report

 Remedies, Liability, and Sanctions 

• Directions
• Lodging Complaints and mediation
• General Contravention
• Imposition of Fines
• Application to the Court
• Compensation

General Exemptions

 DFSA Enforcement Actions 

 About Enforcement

• Stopping and Fixing
• Punishing and Deterring
• Protecting and confidence-building

 Decision Notices and Regulatory Actions

 Case Studies

 DFSA’s and Conduct Rules

• DFSA Core Values and Ethics
• Anti-Bribery & Corruption Awareness
• Conflicts of Interest
• Ethics in Business
• Receipt of Payments Gifts and Benefits
• Client Protection
• Market Abuse and How to Prevent it

 DFSA’s Expectations in Outsourcing and Operational Resilience

• Operational Resilience & Third Party Providers
• Definition of Outsourcing & Third Party Service Supply
• Existing Expectations on Outsourcing & Third Party Provision
• Material, Critical or Important Outsourcing Notifications
• Intra-Group Outsourcing
• Outsourcing and Data Security
• Cloud Outsourcing
• Risk Management of Outsourcing
• Potential Measures to Oversee Critical Third Parties

 Corporate Governance update/Board Responsibility for Compliance 

Definition of Reporting Entities 

Obligations of Reporting Entities 

Governance of Reporting Entities

 Corporate Governance

• Corporate Governance Principles & Standards Applicable to Reporting Entities
• Requirements Relating to Fair Treatment of Shareholders
• Provisions to Address Conflicts of Interests

 Market Disclosures 

• Database
• Continuous Disclosures
• Disclosures by Connected Persons
• Disclosure of Material Interests

 Financial Reports

• Annual financial report
• Interim financial report
• Auditor’s report
• Supply of financial statements
• Public Listed Companies

 Sponsors and Compliance Advisers 

• Appointment and Sponsors or Compliance Advisers

 Miscellaneous 

• DFSA Powers

Training Style  

The programme is designed to provide participants with a better understanding of the various DFSA rules and regulations. The use of interactive case studies will help participants to think critically about scenarios that will be relevant to their respective roles and organisations. 

By the end of the course, participants will have developed the confidence to comprehend what are the rules and regulations applicable to them in their day-to-day transacting. 

CPD Recognition

This programme may be approved for up to 15 CPD units in Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership. 

This training course may be approved as an external activity under the  new  ACAMS  recertification  category  ”non-ACAMS credits” for up to 15 CPD units. Eligibility criteria and CPD Units are verified directly by the Association of Anti-Money Laundering Specialists (ACAMS).