Course Overview:
The Ultimate Beneficial Owner, shortly known as UBO, defines the company’s beneficiary’s legal entity. According to the requirement of the regulator, all financial institutions including banks must disclose the UBO for various reasons. One of the reasons for this is to prevent serious crimes such as money laundering and terrorist financing. The lack of disclosure of UBOs paves the way for people to launder money through companies. Therefore, countries should pay attention to UBO in the fight against money laundering and terrorist financing.
 
Learning Outcomes:
  1. Background – Why the BO regime was introduced.
  2. Inherent Vulnerabilities and risk factors of the sector
  3. FATF Recommendation on transparency and beneficial ownership
  4. Regulatory Framework of UBO
  5. Amendments to Companies Act, and LLP Act, 2017
  6. Measures to be taken by Companies/LLPs for compliance with AML/CFT regulations in general and BO regime in particular
  7. Reporting Requirements under companies (General Provisions & Forms) Regulations, 2018
  8. Enforcement Action available
  9. SECP’s Strategy for Enforcement Actions on new BO Regime For Companies & For LLPs

Trainer Profile:

Mr. Shahzad Afzal Khan, FCMA

Mr. Khan is a specialist in managing, supervising and evaluating AML CFT procedures from the perspective of regulations.
He has post qualification experience of 20 years, including working at management positions at large conglomerates of Pakistan like Army Welfare Trust & SECP. Moreover, he is also involved in conducting training sessions for Professional Accountants and Auditors as well as officials of law enforcement agencies.

Training Schedule & Fees:
Schedule : Date November 19, 2021 Time 03:00PM to 05:00PM
Fees : PKR 10,000/- + 5% Sales Tax
 
For More Information:
Phone: +92-323-1966476
Email: shahrukh@icm.org.pk