Facing the regulators

(CNS): Top regulatory experts will feature in a new half day seminar to be held at the Ritz Carlton in October entitled “working with your financial regulator”. The seminar will feature Tim Ridley, former Chairman of the Cayman Islands Monetary Authority, Ross Delston, former US Federal Regulator and Co-Chair of the American Bar Association’s International Anti-Money Laundering Committee, and Paul Byles (left), former Head of Policy of the Cayman Islands Monetary Authority.

The seminar is being organised by new financial services training firm FTS and has a hands-on focus to help industry practitioners manage their relationships with regulatory bodies such as the Cayman Islands Monetary Authority.

“It is a unique seminar for the Cayman Islands because the focus is on not only how to manage relationships with regulators and expectations but how to best prepare for and handle an onsite inspection by the regulatory body” said Byles.

One of the highlights of the half day event will be a special presentation by Delston (right), a widely respected international consultant, who will deliver a hands-on presentation on how to prepare for an onsite inspection by the regulator, including dealing with the inspection afterwards. Delston comes highly qualified on the topic as he has carried out numerous onsite inspections in his former role with the United Stated Federal Reserve and will reflect on some of these experiences.

The event will not only be valuable to compliance professionals and internal auditors, but also has direct relevance to senior management. For example, Ridley (left) will make a presentation on understanding the interface between the responsibilities of the regulator and those of the financial institution.

“The idea is to discuss where lines should be drawn regarding responsibilities and to help institutions minimise expectation gaps regarding roles” said Ridley.

The seminar is being held on 15 October at the Ritz Carlton. Participants are encouraged to register early at 623-6712 or seminars@fts.ky as spaces are limited to 100 persons.