Time: February 8, 2018 from 1pm to 2pm
Location: 26468 E Walker Dr, Aurora, Colorado 80016-6104
Street: 26468 E Walker Dr, Aurora, Colorado 80016-6104
Website or Map: https://goo.gl/uLZz8D
Event Type: online, webinar
Organized By: Training Doyens
Latest Activity: Jan 12
The rise of anonymous companies has frustrated the efforts of law enforcement and financial regulators to track down illicit financial flows and to prevent crime and corruption. In response, there has been a worldwide effort to increase transparency of ownership and controlling interests in legal entities. It is now incumbent as part of the due diligence process that a company, especially financial institutions, know who really owns or controls legal entities not in their own name. Substantial penalties can apply for violations of these new regulations.
WHY SHOULD YOU ATTEND
As the internet has resulted in an increasing speed at which funds can be transferred, it is now more than ever essential to know who is in real control or ownership of legal entities. Such information is a requisite towards assigning responsibility or legal liability for contractual matters, taxes, and for recourse in the event of illegalities.
Legislation has been pending or adopted in many jurisdictions mandating the verification of beneficial ownership as part of a business’s due diligence process. Failure to follow these requirements can result in drastic penalties to the offender.
The webinar will examine how a business’s due diligence process can identify and verify beneficial ownership and how a company can protect itself against regulatory and legal violations.
The course will expose the learner to the basic requirements of beneficial ownership as part of a customer due diligence program, the importance of a company complying with the law, and various steps a business can take to help it comply with these requirements.
WHO WILL BENEFIT
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