Updated - Compliance Ireland March 2016 Newsletter
Financial Crime
Central Bank Publish Report on AML/CFT in Life Insurance Sector!

On the 8th March 2016 the Central Bank of Ireland published its report on AML/CFT and FS in Life Insurance Firms. This is the fourth such report after a significant and consistent period of Inspections examining how a range of regulated entities address money laundering and terrorist financing risks along with economic sanction compliance.

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Enforcement
Settlement Agreement with Arch Reinsurance Europe Underwriting DAC

On the 22nd March 2016 the Central Bank of Ireland announced that it had entered into a settlement agreement with Arch Reinsurance Europe Underwriting dac. The agreement relates to breaches of the Corporate Governance Code for Credit Institutions and Insurance Undertakings. The Central Bank reprimanded the firm and imposed a financial penalty of €275,000.

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Europe
European Union publishes Full List of the Level 2 Legislative Framework
99 Page Table shows all Level 2 Measures affecting the Financial Services area

The European Commission has published a table of all of the Level 2 legislative measures in the area of financial services including those in preparation and those that have been adopted (marked in orange). The table might be very useful for those trying to keep up with the myriad of legislation that continues to flow from the EU. 

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Data Protection & Privacy
Data Transfers to the United States post-abolition of Safe Harbor
European Commission agrees Framework agreement for safe data transfers

In February 2016 the European Commission announced a framework agreement with the US covering transatlantic data flows called EU - US Privacy Shield which was designed to fill the gap created by the striking down of Safe Harbour by the European Court of Justice in its ruling on 6 October 2015. 



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Training
Course Dates for April - June 2016

Due to Demand, we have added another date for 
Governance & Oversight of Operating Activities.

This 2 hour briefing aims to address the potential problems in relation to maintaining adequate oversight of outsourced activities and other potential safeguards to help ensure compliance with CBI expectations in this area.

Click HERE for booking and further information.


TRAINING SCHEDULE FOR APRIL - JUNE 2016

APRIL

21st Apr, Thurs - Anti-Money Laundering / Counter Terrorist Financing, Full Day
21st Apr, Thurs - Understanding Solvency II, Full Day
26th Apr, Tues - AML in Practice: Implementation of Current Legislation and Guidance, Brief
27th Apr, Wed - Code of Conduct and Mortage Arrears, Brief 
28th Apr, Thurs - The Role of the Compliance Officer for Bank & Investment Firms, Full Day

MAY

4th May, Wed - Corporate Governance, Half Day
5th May, Thurs - Understanding MiFID, Full Day
10th May, Tues - Anti-Money Laundering Refresher Course, Brief
11th May, Wed - Consumer Protection Code Advertising Requirements, Half Day
12th May, Thurs - Implementing USITS IV, Half Day
17th May, Tues - Complaints Handling & Treating Customers Fairly, Half Day 
18th May, Wed - Payment Services Directive, Brief 
24th May, Tues - Implementing the Directive for Alternative Investment Fund Managers (AIFM), Half Day
26th May, Thurs - Director's Duties and Corporate Governance, Full Day
31st May, Tues - Ethics, Brief

JUNE

1st Jun, Wed - Governance and Oversight of Operating Activities, Brief
2nd Jun, Thurs - Risk-Based Compliance Monitoring for Financial Institutions, Full Day
8th Jun, Wed - Understanding Funds in Ireland, Half Day
9th Jun, Thurs - Companies Act 2014, Half Day
14th Jun, Tues - Developments in MiFID 2, Brief
15th Jun, Wed - Consumer Protection Code 2012, Half Day 
16th Jun, Thurs - Data Protection and How to Conduct a Data Protection Audit, Full Day
21st Jun, Tues - Central Bank Inspections & Enforcement, Half Day
22nd Jun, Wed - Implementing Fit & Proper for your Business, Brief
23rd Jun, Thurs - Anti-Money Laundering/Counter Terrorist Financing, Full Day 


How to Make a Booking

Click on the link to the course you want to book and ensure your place today by scrolling down and booking through PayPal.

Alternatively, you can make a booking by sending an email to bookings@complianceireland.com containing the following information:

  • your contact details
  • the name and date of the course that you would like to attend
  • the attendee(s) name(s)
  • the name of the person that the invoice should be addressed to
  • any reference/cost centre/purchase order number that you would like stated on the invoice

We will follow up your booking by sending out an invoice.

Have a Number of People That Need Training?

It may be more cost-effective and time-efficient to have your staff trained at your premises rather than sending them out to external courses. 
As well as our public training courses, Compliance Ireland regularly provides bespoke training to firms around the country.  The benefits of bespoke training include:

  • we can tailor content to your company/industry requirements
  • we can tailor content to focus on specific topics within a subject area
  • we can help you ensure that you comply with mandatory/regulatory staff training requirements
  • reduce costs by running course from your offices or for smaller groups from our offices
  • reduce costs by printing off course content

For more information contact Aisling at: aisling@complianceireland.com


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14 April 2016
In This Issue
Financial Crime
Central Bank Publish Report on AML/CFT in Life Insurance Sector!
Enforcement
Settlement Agreement with Arch Reinsurance Europe Underwriting DAC
Europe
European Union publishes Full List of the Level 2 Legislative Framework
Data Protection & Privacy
Data Transfers to the United States post-abolition of Safe Harbor
Training
Course Dates for April - June 2016
Useful Links
Compliance Ireland
Compliance Ireland
Lower Ground Floor
13 Adelaide Road
Dublin 2

T: +353 1 425 5962
E: email@complianceireland.com
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