Dear member,
Welcome to the May edition of Compliance Institute's newsletter.
As always, be sure to connect with us on LinkedIn, Twitter and Instagram to stay up to date with our news, events and latest developments as well as keeping an eye on our website, compliance.ie.
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Digital Badges - Easily share your achievements where it matters:
The tsunami of regulatory changes and advances in areas such as Regulation Technology (Reg Tech), Data Analytics and Artificial Intelligence (AI) are transforming the financial services industry. Ongoing skill acquisition is critical to sustaining professional relevance. It is therefore vitally important that Compliance Professionals continually progress in terms of their professional development and it is also important that these skills and qualifications can be shared with your professional network.
Compliance Institute is therefore providing a unique offering of a free portable digital badge to our Designate members which can help advance your career by providing you with a shareable, verifiable way to tell the story of your skills and competencies - especially to hiring managers. Digital badges have embedded metadata that provide richer validation of qualifications. They contain shareable information about the badge issuer, receiver, criteria for issuing, issue date, expiration date, standards adhered to and evidence of achievement.
Designate members will receive further information via email in the near future.
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Compliance Institute Response Letter to the CPC Review Consultation Paper
In October 2022 the Central Bank of Ireland (CBI) launched a Consumer Protection Code Review Consultation Paper and Compliance Institute was provided with the opportunity to provide responses on behalf of our members to the questions set out in the paper.
Please see enclosed below a link to the response letter to the CPC Review Consultation Paper.
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Updates to the Central Bank’s Fitness and Probity Enforcement Procedures
The Central Bank’s procedures for fitness and probity investigations, suspensions and prohibitions have changed under the Central Bank (Individual Accountability Framework) Act 2023, which has amended the Central Bank Reform Act 2010.
Please see enclosed below a link to a letter from the Central Bank to our members which explains these changes.
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On April 17th, the Wolfsberg Group published their new “Wolfsberg Anti-Bribery and Corruption Compliance Programme Guidance” which is designed to provide guidance on how to develop, maintain and implement an effective Anti-Bribery and Corruption (ABC) Compliance programme.
Please see enclosed below a link to a summary article on this report.
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Open Consultation Papers
Please see enclosed below a table outlining twelve current noteworthy Open Consultation Papers.
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Compliance Institute Education - Register Now:
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Professional Certificate & Diploma in Compliance, a level 7 qualification on the NFQ, is offered by Compliance Institute’s education partner, IOB, a recognised college of UCD, commences on 06 June 2023 with the closing date for registration being the 14th July 2023.
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Watchlist Data & Screening Trends
Date: 4th May
Online
Time: 13:00 - 14:00
CPD: 1 hour LCI, FCI (Compliance), CFCP
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ESG - An opportunity for Ethical Leadership
Date: 10th May
Online/Free to members
Time: 13:00 - 14:00
CPD: 1 hour of Ethics for all Designations
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Markets in Crypto Assets (MiCA) Regulation
Date: 16th May
Online
Time: 13:00 - 14:00
CPD: 1 hour LCI, FCI (Compliance), CFRCP
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Irish Data Protection Developments on the GDPR's 5th Anniversary
Date: 24th May
Online
Time: 13:00 - 14:00
CPD: 1 hour LCI, CDPO, QFA, CPD Member, RS CPD Member, Certified Bank Director, Certified Investment Fund Director, Personal Insolvency Practitioner, Accredited Funds Professional, Wealth Management Professional, MCI Board Member
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European Anti-Financial Crime Summit
Date: 25th May
Time: 08:55 - 5:30pm
Compliance Institute members have a discounted rate of 30%! To avail of this discount when booking apply code: EAFCS30OFF
CPD: 4 Hours LCI, FCI (Compliance), CFRCP,
2 Hours CFCP
1 Hour CDPO
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Sustainability Reporting and Due Diligence - A legislative update
Date: 30th May
Online
Time: 13:00 - 14:00
CPD: 1 hour LCI, FCI (Ethics), FCI (Compliance), CECA, Professional Banker, Chartered Banker, Certified Bank Director, Certified Investment Fun Director, Accredited Funds Professional
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The Compliance Files Podcast Series
Last month we released a further episode of The Compliance Files podcast series on the topic of Anti-Money Laundering (AML) Insights featuring Niall Esler, Partner and Head of the Regulatory Group and Shane Martin, Partner, Regulatory Compliance & Data Privacy Lawyer of Walkers. In this episode they discuss key recent and upcoming developments in AML. The podcast covers a wide range of topics including - governance, developments in the role of the MLRO, outsourcing in AML, risk management, and trends in enforcement.
To listen to the Compliance Files podcasts in full, please find enclosed below a link to the Podcasts section of our website where you can listen to these and more episodes:
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Individual Accountability Framework – Pre-Implementation Survey
The below survey is a piece of online research being conducted as part of the MSc. Compliance programme.
The Central Bank of Ireland Consultation Paper and Draft Guidance document concerning the Individual Accountability Framework (IAF) has recently been issued. This survey explores perceptions of how the role and influence of the compliance and risk functions will change upon implementation of IAF. More specifically, how the IAF will:
- Change the relationship between the business and risk and compliance functions;
- Affect the extent to which risk and compliance influence decisions and behaviour; and
- Affect the internal profile of risk and compliance functions.
The Institute member would be grateful if you could take the time to complete the survey.
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Applied Research Project - Fitness and Probity Regime Survey
The below survey is a piece of online research being conducted as part of an Applied Research Project for the MSc. Compliance programme.
The purpose of the survey is to assess understanding and alignment of compliance obligations associated with the Central Bank of Ireland’s Fitness and Probity Regime introduced by the Central Bank Reform Act 2010.
The Institute member would be grateful if you could take the time to complete the survey.
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As always, we would like to thank you for your ongoing support and Compliance Institute membership.
If you have any ideas on how we can further support those working in the compliance industry, or if there is a topic you would like to see covered in our podcast series or webinar, please send an email to [email protected] and we will do our best to make it happen.
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Compliance Institute | 5 Fitzwilliam Square | Dublin 2 | Ireland | T: +353 1 779 0200 |
E: [email protected]
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