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AMLA for Insurance Companies and Financial Institutions

With the recent release of Insurance Commission (IC) Circular Letter 2018-48 and 2018-60 that took effect November 14 & 22, 2018, all insurance, pre-need, reinsurance companies, mutual benefit associations, trusts for charitable uses, HMOs and other covered persons (agents, brokers, etc.) and institutions regulated by Insurance Commission (IC) are required to implement detailed policies and procedures that will combat money laundering and terrorism financing.

With the clamor of many insurance companies to be fully compliant and to provide a mandatory training for all its officers and employees, the Center for Global Best Practices will host a special program entitled, AMLA for Insurance Companies and Financial Institutions to be held on Thursday, January 31, 2019 at the Manila Marriott Hotel, Pasay City, Philippines.

This program coincides with the Anti-Money Laundering Council’s Revised IRR on Anti-Money Laundering Act which took effect on November 22, 2018 and is applicable to all holding companies, banks, financing companies, pawnshops, jewelry dealers, casinos, persons including lawyers, accountants and other professionals handling money.

This pioneering program aims to provide attendees comprehensive information about IC Circular 2018-48; 2018-60, and updates on the AMLA IRR that will protect you and your organization from unwittingly accepting fraudulent business transactions. Attending participants will also learn the latest trends on money laundering and terrorism financing, how to establish an effective risk assessment and management system and how to fully implement AMLA in your company. This training will also teach you good governance and best practices that will be useful to mitigate business exposures to reputational, legal and regulatory risks.

Noncompliance to this regulation will cause you jailtime, penalty of up to 1 million per violation and asset forfeiture.

Gain valuable insights from a certified compliance officer, Atty. Danny Espejo Bunyi, who obtained his certification from the American Academy of Financial Management. He is also a senior partner at Divina Law. His expertise include Corporate, Banking and Finance, Insurance, Trust, and Special Projects with emphasis on regulatory compliance (AMLC, SEC, IC, etc), corporate finance, mergers and acquisitions, corporate housekeeping, financing documentation, cross-border transactions, and trust operations & investments.

His previous positions include having been a senior vice president at the Development Bank of the Philippines, first vice president and chief compliance officer at Robinsons Bank, and first vice president and head of the Legal Services Group of Robinsons Savings Bank.

Note: Registration is open to the general public. CGBP is accredited by the Civil Service Commission. Attendees from the government can earn points for their career advancement and is exempted from the PHP 2,000 limit when attending training conducted by the private sector based on DBM circular 563 dated April 22, 2016.

Interested participants may choose to avail of the following:
a) 5% Early Registrant (valid until January 11)
b) 5% Early Payment Discount (valid until January 21)
c) 5% Group Discount

You may also find of interest the following Best Practices programs:
     Friday, January 18, 2019

    Friday, February 1,2019

     Wednesday and Thursday, February 13 & 14, 2019

     Friday, February 15, 2019

    Thursday & Friday, February 28 & March 1, 2019

     Friday, March 8, 2019

     Wednesday & Thursday, March 27 & 28, 2019

     Friday, April 12, 2019

     Wednesday, April 24, 2019

       Friday, June 21, 2019 (Cebu City)

       Wednesday & Thursday, July 10 & 11, 2019

13) More at www.cgbp.org.

For inquiries, you may contact
Center for Global Best Practices

Telephone Numbers:
Metro Manila: (+63 2) 842-7148 or 59, and (+63 2) 556-8968 or 69
Baguio City: (+63 74) 423-2914
Cebu City: (+63 32) 512-3106 or 07
Legaspi City: (+63 52) 736-0148

CGBP also accepts in-house training and consulting for individuals, families, and corporate clients. We invite you to check our website for a complete list of Best Practices programs.

#BestPractices #UpcomingSeminars2019 #PhilippineSeminars #Finance #TradeandFinance #FinanceMatters #MoneyLaundering #Banks #FinancialInstitution #TrainingandCompliance #ALMC #AMLARegulations #IRR #AntiMoneyLaundering #InsuranceCommission #BangkoSentralngPilipinas #BSPRegulation
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