The partners of Ernst & Young, Bahamas are pleased to announce the sponsorship of a seminar scheduled for the afternoon of Monday November 12, 2001 at the British Colonial Hilton. The seminar, entitled A Proactive Approach to Anti-Money Laundering, is geared for financial service executives. It will not only provide an international perspective to anti-money laundering, but will present proactive measures to assist in tackling this area of concern as well as reducing the risk of fraud. The seminar is scheduled to commence at 4:30 p.m., with the formal program to be followed by refreshments. A registration fee of $75 will be charged.
The presenters will include Ernst & Young service professionals from the Bahamas, United States, Switzerland and the United Kingdom. Mr. Julian Francis, governor of the Central Bank of the Bahamas, will also attend and provide remarks on the Bahamas’ perspective.
Managing partner of Ernst & Young, Bahamas, Philip B. Stubbs, states that, *”together with the ever-changing regulatory environment and increased vigilance of regulators over money laundering, not only in the Bahamas, but also globally, it is no wonder some financial services executives are having sleepless nights. It is with this in mind that I and my partners see the need to provide a discussion that will highlight practical tools and solutions, as well as share experiences and knowledge of regulatory changes and best practices.”* Consistent with this, the firm recently hosted a seminar outlining the practical aspects of Qualified Intermediary audits, and the related requirements, for banks in the Bahamas that are QI’s through agreements with the Internal Revenue Service of the United States.
The speakers, scheduled for the seminar, are as follows:
Chris Maher – a Partner with Ernst & Young LLP in New York. He is part of the US firm’s Risk Management and Regulatory practice, specialising in anti-money laundering and risk management advisory services to global banking and financial services organisations.
Debbie Ward – Assistant Director with Ernst & Young’s Forensic Services group in London. This group specialises in special investigations, in particular anti-money laundering matters. She was seconded for 18 months to the Regulatory Enforcement Department of the UK’s Financial Services Authority.
Bernard Fishman – Partner with Ernst & Young’s Competence Centre for Private Banking in Geneva. He was responsible for the development of two products that act as tools to help prevent and detect fraud and money laundering in private banking.
Lorraine Burrows – Corporate Manager of Ernst & Young, Bahamas. With over 30 years of experience in the offshore industry, Lorraine’s responsibilities include corporate management services and compliance matters for the firm.
David Leppan – CEO of World-Check, a service provider of compliance tools for the banking industry.
Ernst & Young, and any predecessor firms, have operated in the Bahamas since 1948. The Firm is a member of the global organisation, Ernst & Young International.
Ernst & Young, a global leader in professional services, helps clients to quickly and confidently make financial decisions designed to enhance value. Its 77,000 people in more than 130 countries have the industry and financial experience to provide fresh perspectives on operating successfully in the new economy. Ernst & Young offers traditional audit and tax services, as well as customized services in corporate finance, online security, risk management, the valuation of intangibles and e-business acceleration. In addition, legal services are available in various parts of the world where permitted. A collection of Ernst & Young’s latest ideas on the new economy can be found at www.ey.com/thoughtcenter.
For registration and further information, please contact Yolanda Edwards at 502-6000.