CFP® Continuing Education

Financial institutions are at the forefront of the battle against the money launderers. It is not only their institutions that the money launderers target to use in their various nefarious schemes but under current legislation they are responsible for policing the financial dealings and reporting any suspicious transactions.

This course will dwell upon the new regulatory environment of the securities industry vis a vis money laundering, specifically the USA Patriot Act 2001. The course aims to highlight the key aspects of the USA Patriot Act namely, Suspicious Activity Reporting (SAR) and Know your Customer (KYC)

LEARNING OBJECTIVES:

• Understand the scope and effect of Money Laundering.
• Understand the Process and Methodology of Money Laundering.
• The impact of money laundering on the Operations and responsibilities of Financial Institutions.
• The regulatory environment vis a vis Money Laundering for the securities industry.
• The establishment of the Anti Money Laundering Program for securities firms.

TOPICS COVERED:

• Introduction
• LESSON 1: Money Laundering Defined
• LESSON 2: Effects of Money Laundering
• LESSON 3: Federal Money Laundering Laws for Securities Firms
• LESSON 4: The USA Patriot Act

REGULATORY REQUIREMENT:

Please see the state/regulatory requirement from the course catalog page.

SEAT TIME:

This course has been approved for 2 hour.

TESTING:

Final Exam – You will be required to pass the final exam with a 70% to receive course credit.

COURSE COMPLETION:

Upon successful completion of this course you will be able to print your certificate online.

ABOUT THE SUBJECT MATTER EXPERT:

Les Carter

Les was an executive in the financial services industry who has served as a President of a commercial bank, and as an Executive Vice President of a special servicing company. He has 20 years of commercial and mortgage banking experience including starting four companies: a commercial bank, a consulting company, a loan servicing company, and a consumer collection agency.

Most recently, before joining 360Training, Les was an Executive Vice President of The Ontra Companies in Austin, TX, a nationally recognized holding company with interests in special servicing and loan originations.