FATCA, governance and oversight: impact of the 18 June 2020 law

Intra-company training

Who is the training for?

All line of defences of the financial industry from board members to compliance officers and members of KYC units.

Level reached

Advanced

Duration

2,00 hours(s)

Language(s) of service

DE EN FR

Goals

Since 1 January 2021, financial institutions in Luxembourg need to have a compliance programme in place that includes written policies and procedures, controls and IT systems.

What are the best practices in terms of governance?

What should I do when compliance tasks are delegated to a service provider, especially in terms of oversight obligations?

By the end of this course, participants will be able to:

  • determine which procedures should be put in place or amended;
  • upgrade their client/investor onboarding process;
  • assess whether they receive sufficient information and comfort from their service providers.

Contents

  • Best practices in terms of procedures
  • Area of risks
  • Common mistakes in the market in terms of client due diligence and reporting
  • Documentation of the controls
  • Oversight - what are the key points to control in case of delegation

Additional information

This training will be coordinated by Pierre Kirsch, Partner at PwC Luxembourg.

Pierre, Tax Partner, is an authorised manager of the PFS Tax Information Reporting department where he is in charge of all services around tax transparency and automatic exchange of information.

He has spent more than 27 years working for clients in the private banking and asset management industries in Luxembourg where he has acquired a deep knowledge of their internal processes.

Pierre has performed different tax transparency analyses of the private and corporate client base of several major financial institutions in Luxembourg and abroad, with the objectives to determine the level of risk of non-tax compliant clients and define an appropriate and measurable action plan.

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