If you are a regulated firm within the scope of the UK Money Laundering Regulations, you must appoint a Nominated Officer to deal with the handling of the firm’s internal Suspicious Activity Reports (SARs).  In practice, that person will normally be referred to as the Money Laundering Reporting Officer (MLRO). For FSA regulated firms, this role is a controlled function under FSA rules (CF11), and is the focal point within the firm for oversight of all activity relating to Anti-Money Laundering.

CCL's new 1 day MLRO course has been enhanced with more case histories and studies and gives more emphasis on the areas perceived to be of current interest to AML regulators.

Specific themes addressed in the course include:

• Sources of authority and the split of responsibilities between the firm’s senior management (in particular the designated Senior Manager in FSA regulated firms) and the MLRO
• Creation of a firm’s ML risk assessment and the ongoing maintenance of it
• The practicalities of managing the firm’s SAR arrangements with particular reference to the consent regime and lessons to be learnt from the Stephen Judge case
• Ongoing developments in SOCA
• Training and Awareness, contrasting retail and wholesale markets’ practical needs
• Management information, including the FSA requirement for an annual report to senior management
• Regulators’ current areas of interest, e.g. the FSA’s interest in firms’ compliance with sanctions obligations