Managing Risks Involving Securities Dealers and Mutual & Hedge Funds.
New anti-money laundering (AML) regulations apply to U.S. securities dealers and mutual funds (though not to hedge funds — a loophole that opens a potential avenue to money launderers.) As a result, along with watching for other fraud scams, securities broker-dealers and mutual fund dealers must now scrutinize offshore accounts, identify beneficial owners of corporate accounts and ensure accurate customer identification. They must also invest time and money designing AML policies, suspicious activity reporting methods and customer identification and staff training programs. In this seminar you will learn how dirty money moves through securities channels and how a sound AML program can identify and prevent illicit activities.
The Experts:
Larry Masci, CAMS
For the last 18 years, Larry has been employed as an Investigator with the Ontario Securities Commission-Enforcement Branch in Toronto, Canada. Over the years, he has investigated numerous Securities related Fraud cases involving multiple jurisdictions. Larry has also given presentations to the Ontario Provincial Police Anti-Rackets Branch regarding money laundering in the securities industry. This branch is second to the Combined Forces Special Enforcement Unit which investigates organized crime in the securities industry. Larry is a Certified Fraud Examiner and also CAMS certified.
Sven Stumbauer, CAMS
Sven is currently a manager in KPMG’s Forensic practice. Prior to joining KPMG Forensic, Sven worked with the NASD (National Association of Security Dealers) as a Compliance Examiner. His prior experience includes Financial and AML/U.S. PATRIOT Act compliance audits of broker/dealers as well as securities fraud examinations. Sven’s industry expertise includes domestic and international banks, broker/dealers, trust companies and hedge funds, focusing on regulatory compliance, fraud issues and AML compliance. He participated in the development and deployment of KPMG’s proprietary AML system for both correspondent and retail banking, focusing on the development of scenarios to identify potentially suspicious transactions indicative of money laundering or fraud.
Recorded: October 18, 2006
Return Policy.
CD-ROMs are non-refundable after purchase. Replacement only if CD-ROM is returned.
