Lebanon Basic Circular No. 128 Banking and Financial Laws and Legislation Foreign Affiliates Regulatory Compliance Training Course
Regulatory C Training
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Compliance g Course
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Content
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Regulatory Compliance Training Course
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About the Training Course
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Key Benefits
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DAY 1
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DAY 2
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Training Course Expert Trainer Profile
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About Storm-7 Consulting
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Regulatory Compliance Training Course
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rticle 1 of the Banque du Liban Basic Circular no. 128 (Beirut, January 12, 2013) (the Circular) states that Banks and Financial Institutions (BFIs) must establish a Compliance Department (CD) comprising of: (1) a Legal Compliance Unit; and
and hold, at least, a law degree; it must also have the required knowledge and expertise in the field of banking and financial services laws and legislations in force in Lebanon and in any country hosting the affiliates of the bank or financial institution, in addition to the required knowledge in banking and financial activities.
(2) an Anti-Money Laundering (AML)/ Counter the Financing of Terrorism This training course has been specifically (CFT) Compliance Unit (AML/CFT designed to provide the required knowledge and expertise relating Compliance Unit). to countries hosting the affiliates of Article 3 of the Circular specifies that Lebanese banks or financial institutions the Head of the Legal Compliance Unit located within the European Union must have the required competences (EU).
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About the Training Course
This is the only training course in Lebanon that provides this breadth of coverage of banking and financial laws relevant for the requirements set out in the Banque du Liban Basic Circular No. 128.
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his unique and innovative training course will train attendees in a very broad range of regulatory compliance frameworks that govern Lebanese affiliate BFIs operating in the European Union (EU). On the first day, the first two sessions will provide extensive coverage of EU AML/CFT operational frameworks as well as key AML/CFT areas, such as risk-based approach to money laundering, undertaking extensive due diligence, and AML/CFT policies, conduct risk, and reputational risk and financial damage. The next two sessions will cover the revised Markets in Financial Instruments Directive (MAD 2) and the Market Abuse Regulation (MAR) regulatory compliance frameworks. They will include a review of a range of new insider dealing and market abuse offences, new criminal sanctions and penalties, as well as market abuse prevention, monitoring, and detection. These sessions will also provide a review of a broad range of insider dealing and
market abuse behaviours, as well as a select review of past case studies. On the second day, sessions 5 and 6 will provide extensive coverage of the new revised Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR). This includes a review of the new market structure in place across the EU, MiFIR trade and transaction reporting, MiFID II suitability and appropriateness requirements, best execution, recording of telecommunications, and the unbundling of research commissions. The last two sessions will provide broad coverage of central counterparty (CCP) operational frameworks that are in place in the EU. This will include a review of the CCP clearing model, CCP operational practices, and CCP cleared products. In addition, the course will cover CCP operational risk and default risks, as well as providing attendees with a comprehensive understanding of recovery and resolution plans.
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Key Benefits 1 Very extensive training in key regulatory compliance frameworks that are in place across the EU. 2 Highly interactive training sessions with a client review session scheduled at the end of each day. 3 In-depth coverage of key areas across a multitude of different banking and financial institution regulatory frameworks. 4 Highly comprehensive training manuals and materials containing additional materials which can be used for future reference purposes. 5 Invaluable insights covering legal, operational, technological, and strategic perspectives of key regulatory frameworks.
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DAY 1 SESSION 1: AML/CFT Frameworks – PART I
Operational SESSION 2: AML/CFT Frameworks – PART II
Operational
•A n Overview of the First, Second, • O ffences, Penalties, and Pecuniary Third and EU Money Laundering Sanctions, AML/CFT Gap Analysis, Directives, and Commission Money Risk Assessments, Risk Appetite Laundering and Terrorist Financing Statements, Simplified Due Risk Assessment. Diligence, Record Keeping, and Beneficial Ownership Register • The Risk-Based Approach (Obliged Obligations, Operational and Risk Entities, Supervisors, AML/CFT Policies and Procedures, AML/CFT Jurisdictions, Prepaid Cards, Monitoring. Mobile Payments, Internet-Based Payment Services) and Risk Factors • H igh-Risk Third Countries and Third (Customer; Geographical; Product, Party Equivalence, AML/CFT Staff Service, Transaction, or Delivery Training, Compliance Manuals, Channel). Identified Risk Factors and Warning Signs. • Customer Due Diligence (CDD), Simplified Customer Due Diligence • A ML/CFT Policies, Money (SCDD), Enhanced Customer Due Laundering, Culture of Compliance, Diligence (ECDD), Beneficial Owner, Conduct Risk, Reputational and and Politically Exposed Persons Financial Damage. (PEPs) Obligations.
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SESSION 3: Insider Dealing and Market Abuse Operational Frameworks – PART I
SESSION 4: Insider Dealing and Market Abuse Operational Frameworks – PART II
• T he MAD 2 and MAR Operational Frameworks, Criminal Sanctions and Penalties, Liability for Natural and Legal Persons, Spot Commodity Contracts, Benchmark Manipulation.
• Accepted Market Practices and Market Soundings, Market Abuse Exemptions, Powers, and Sanctions, Chinese Walls, Supervisory and Investigatory Powers.
•N ew Offences, Disclosure of Inside Information, Transactions by Persons Discharging Managerial Responsibilities, Suspicious Transaction Reporting, New Whistleblowing Obligations.
• Insider Dealing and Market Manipulation Signals and Examples, Unlawful Disclosure of Information Signals and Examples, CrossMarket Manipulation, Market Abuse Behaviours.
• A Review of a Range of Insider • S uspicious Transaction and Order Dealing and Market Abuse Case Reports (STORs), Market Abuse Studies. Prevention, Monitoring, Detection, Training, Reporting.
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DAY 2 SESSION 5: MiFID II and MiFIR SESSION 6: MiFID II and MiFIR Operational Frameworks – PART I Operational Frameworks – PART II • T he MiFID II and MiFIR Regulatory • MiFID II Best Execution (BE), BE Frameworks, Global Impact, Operational Monitoring Systems, Regulatory Powers, Data Reporting Best Execution Technology Services, Third Country Framework, Offerings. Market Structure (Organised and • MiFID II and the Recording of Multilateral Trading Facilities and Telecommunications, the Top Ten Systemic Internalisers) Recording of Communications • MiFIR Reporting Framework and Strategic Considerations for MiFID II Reporting Obligations, New Investment Firms. Reportable Instruments, Extended • MiFID II and the Unbundling of Transaction Report Fields, Legal Research Commissions, Research Entity Identifiers (LEIs), Client Payment Accounts, Broker Voting, Identification Standards, Flags. Commission Sharing Agreements, •M iFID II Suitability and Appropriateness, MiFID II Requirements for Assessing Suitability and Appropriateness, Guidelines, Operational Requirements (Recommendations, Ability to Bear Losses, Multiple Client Entities, Suitability Reports, Recordkeeping).
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Research Platform Operational Models and Research Marketplaces.
SESSION 7: CENTRAL COUNTERPARTY SESSION 8: CENTRAL COUNTERPARTY (CCP) Operational Frameworks – (CCP) Operational Frameworks – PART I PART II • T he CCP Clearing Model (Functional • Default risks (CCP Member Definition; CCP Ownership; CCP default, Distress, or Resignations; Advantages and Disadvantages; Failed Auctions, Reputational), Novation; Cleared Products; Non-default loss events (Fraud, Margining; Multilateral Netting; Risk Operational risk, Investment Risk, and Default; Loss Mutualisation; Legal risk, Model risk, Liquidity risk). Auctions; Portability). • Membership Requirements, • ESMA and EU CCP Authorisation, Transparency, Margin Methodology, Recognition and Supervision, CCP Stress Testing, Risk Policy Issues, MiFID Operating, Clearing and Reporting II Open Access, Mutualised Default obligations under the European Funds, Default Waterfall, Default Market Infrastructure Regulation Fund Margin, Skin in the Game, and (EMIR) Framework. Rights of Assessment. •C CP Cleared Products, Reporting, • CCP Regulation v. ‘Too Big To Fail’, Interoperability, Third Country Recovery and Resolution Plans, CCPs, Basel III Capital Treatment/ Recovery Tools (Default and NonRisk Weightings for Qualifying and Default Losses). Non-Qualifying CCPs.
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Training Course Expert Trainer Profile Rodrigo Zepeda is Co-Founder and Managing Director of Storm-7 Consulting. He is an expert consultant who specialises in derivatives and banking and financial services law, regulation, and compliance. He is an expert in a very broad range of regulatory compliance frameworks such as FATCA, the OECD CRS, MiFID II, MAD 2 MAR, PSD2, CRD IV, Solvency II, OTC Derivatives, CCP Clearing, PRIIPs, BRRD, AML4, and the GDPR. He holds a LLB degree, a LLM Masters degree in International and Comparative Business Law, and has passed the New York Bar Examination. He was an Associate (ACSI) of the Chartered Institute for Securities & Investment from 2004 to 2014 and is now a Chartered Member (MCSI). He has created and delivered numerous conferences and training courses around the world such as ‘FATCA for Latin American Firms’ (Santo Domingo, Dominican Republic, Panama City, Panama), ‘MiFID II: Regulatory, Risk, and Compliance (London, United Kingdom (UK)), ‘Market Abuse: Operational Compliance’ (London, UK), and AEOI (FATCA & CRS) Compliance and Technology (Manama, Bahrain). He has also delivered numerous in-house training Courses around the world to major
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international financial institutions such as The Abu Dhabi Investment Authority (MiFID II: Operational Compliance, Abu Dhabi, the United Arab Emirates), the United Nations Principles of Responsible Investment (MiFID II: Final Review, London, UK), CAF, the Development Bank of Latin America (Swaps and Overthe-counter Derivatives, Lima, Peru), and Rothschild Investment Management (UK) Limited (AEOI (FATCA & CRS) Operational Compliance, London). He is a Reviewer for the Journal of Financial Regulation and Compliance and has also published widely in leading industry journals such as the Capco Institute’s Journal of Financial Transformation, the Journal of International Banking Law and Regulation, as well as e-books on derivatives law. Noted publications include “Optimizing Risk Allocation for CCPs under the European Market Infrastructure Regulation”; “The ISDA Master Agreement 2012: A Missed Opportunity”; “The ISDA Master Agreement: The Derivatives Risk Management Tool of the 21st Century?”; “To EU, or not to EU: that is the AIFMD question”; and “The Industrialization Blueprint: Re-Engineering the Future of Banking and Financial Services?”.
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About Storm-7 Consulting Storm-7 Consulting is an international consulting company that provides premier intelligence, insight and support to global financial institutions. We provide cutting-edge conferences, events, public training courses, and inhouse training courses to leading firms globally. We provide expert regulatory compliance training covering areas such as GDPR, MiFID II, AEOI (FATCA & CRS), MAD 2 MAR (Market Abuse), CRD IV, PRIIPs, Solvency II, PSD 2, CCP Clearing, AML/CTF, Stress Testing, Senior Managers and Certification Regime. We provide unique and highly innovative marketing services to firms operating in the banking, financial services, Regulatory Technology (RegTech), and Financial Technology (FinTech) sectors. We have received enquiries and bookings from leading firms around the world, such as the Abu Dhabi Investment Authority, Rothschild Investment Management (UK) Limited, Dubai
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Financial Market, CAF the Development Bank of Latin America, the Central Bank of Ireland, the Central Bank of Russia, APG Asset Management, Royal London Asset Management, Brandes Investment Partners, Eversheds, Erste Group, Millenium Information Technologies, Deutsche Bank, Bethmann Bank AG, ICBC Standard Bank, Gulf International Bank, Raiffeisen Bank International AG, and BGC Partners. We have collaborated with firms around the world, such as the United Kingdom Financial Conduct Authority, Thomson Reuters, Sopra Steria, Sungard, Capco, OTC Partners New York, IHS Markit, Eze Castle Integration, ICMBA Centre, Sybenetix, Heriot Watt University, JP Morgan Asset Management, Custom House Global Fund Services, Cass Business School, Rixtrema, Solum Financial, D2 Legal Technology, Eurekahedge, Financial IT, HedgeConnection, Alpha Journal, ATMonitor, HF Alert, and CrowdReviews.
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For Enquiries and Bookings: Tel: UK +44(0)20 7846 0076 Email: client.services@storm-7.com Online: www.storm-7.com