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Compliance & AML-CFT obligations

Advocates Primei assists clients with various Regulatory Compliance issues and also Anti-money laundering and counter-terrorist financing (AML-CFT) obligations.

In terms of Regulatory Compliance, we regularly assist Regulated entities such as Funds, Financial Institutions, Trustees, and Corporate Services entities with drafting, implementing, and reviewing of their Compliance Manuals and Compliance functions in terms of the relevant legislation and their specific Licence Conditions. We also offer the possibility of assuming a Compliance Role with the Client’s regulated entity;

In terms of AML–CFT Compliance, we assist a number of subject persons, including professionals such as licenced entities, Trustees, CSPs, accountancy firms and notaries with the formulation, and implementation of proper AML-CFT policy, including the necessary Procedures Manuals and related documentation. Apart from the initial implementation we also offer the possibility of on-going support and assistance as necessary.  We have considerable experience with assisting clients to ensure proper compliance with all AML-CFT responsibilities in terms of Maltese Laws, Regulations and FIAU Guidelines and also the Third European Union Money Laundering Directive;

We also can assist with the implementation of an Internal Audit function so as to ensure suitable and internal controls to mitigate against potential regulatory risk arising from compliance violations and/or inadequate supervision.

The following is a list of possible due diligence and compliance solutions that we offer:

1.     Preparation of internal procedures, including preparing customers for potential on-site visits by the regulators

2.     Preparation and on-going maintenance of Compliance and AML-CFT Manuals;

3.     Personalised Training courses on Money Laundering and Terrorist financing methods, typologies and trends in order to provide guidance and feedback by transmitting updated information to subject persons;

4.     Regular updates on changes in regulations, rules etc as relevant to a client’s business;

5.     Pre-licensing assistance and advice including liaising with the regulators on the licensing requirements and preparing the licence application forms and supporting documentation as required

6.     Post-licensing regulatory and compliance support which may include the services of a Compliance Officer and/or Money Laundering Reporting Officer or support to a client’s in-house officer.

 We can discuss an appropriate solution for each client accordinlgy. 

Kindly Contact Us now for further information and advice.