COMPLIANCE TRAINING
BANK & PSP ACCOUNTS
GDPR COMPLIANCE SERVICES

Compliance Training & Seminars

No matter what industry your organisation is in, legal and regulatory compliance is essential to protect it and your employees. This is particularly relevant for the finance sector, as the increased demand for digital services has expanded the regulatory environment and increased the need for compliance.

Compliance training and staying on top of financial laws and related regulations has never been so crucial for professionals within the financial services industry. An organisation’s commitment to its compliance program and training plan can yield economic benefits. One study found that for every dollar allocated to an organisation’s compliance budget, on average, “damages, settlements, and fines [decreased] by $1.37.” Our governance, risk and compliance learning opportunities help organisations analyse their true cost of non-compliance.

FAI Comply can assist your organisation to ensure that your employees are fully aware of the legal obligations imposed on both them personally and on the company, by introducing a complete employee’s education and training program. We will help you to determine the frequency, structure and content of training required for employees in different positions and levels of responsibility, who may face different risks, ensuring that all staff is equipped with sufficient knowledge.

Training plans can cover several subjects including, but not limited to:

  • Anti-money laundering (AML) regulation and updates

  • CySEC AML Certification Examination preparation course

  • Directors’ roles and responsibilities

  • MiFID II & MiFIR overview

  • MiFID II best execution & investor protection

  • MiFID II Product Governance and Preparation of Key Information Documents (KID) of PRIIPS

  • MiFIR transaction reporting

  • Alternative Investment Funds (AIF), AIFMD and UCITS: Definitions, Structures and Regulatory Compliance

  • The General Data Protection Regulation: A high level analysis

Continued professional development training seminars for persons holding CySEC Certification

Certified persons registered in the Public Register should renew their registration on an annual basis in accordance with the paragraph 17(1) of the Directive regarding the Certification of Persons and the Certification Registers (44/2019 and 103/2019).

The FAI Comply CPD training seminars below are for persons holding CySEC certification:

SALES TRAINING (PRODUCT & SERVICES, AML BASICS AND SALES GUIDELINES) (5 CPD units)

PROMOTION IN FINANCIAL SERVICES (5 CPD units)

THE ALTERNATIVE INVESTMENT FUNDS LAW (5 CPD units)

UNDERSTANDING ANTI-MONEY LAUNDERING & TERRORIST FINANCING (5 CPD units)

MiFID II: INVESTOR PROTECTION (5 CPD units)

GDPR - A HIGH LEVEL ANALYSIS OF A REGULATED FIRM'S OBLIGATIONS (5 CPD units)

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Continued professional development training seminars should be on topics that fall within the relevant legislation that applies to the trainee and which relate directly to the duties that they will undertake as part of their certification. To find out more about our CPD training seminars, please get in touch by replying to this email in order to discuss available delivery channels and fees.

Seminars & Webinars

Seminars

 

We understand that each organisation has its own unique requirements and as such requires seminars that are concise, customisable, enjoyable but flexible. FAI Comply’s leading experts are committed to designing and delivering in-house programmes tailored to your company’s specific needs, offering a wide range of customisable training solutions for all levels of professionals.

Using our broad wealth of knowledge and experience, we will provide participants with ample opportunity to discuss topics, ask pertinent questions directly relatable to your company’s own experiences and become involved in team-building exercises.

All our seminars are specially designed to cover CPD requirements for CySEC and can be offered in-house at your own offices, at your convenience.

Webinars

FAI Comply experts will deliver engaging and interactive courses across a spectrum of areas that can be enjoyed from the comfort of your own chosen environment. Live online training webinars offer professionals the flexibility to continue their learning, regardless of location, and enjoy the advantages of a real-time, trainer-led training experience.

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Business Bank Accounts & PSP Accounts

It goes without saying that the opening of a bank account is fundamental to any business. It should be noted, however, that modern day banking is under growing scrutiny from national competent authorities and regulatory bodies who are concerned with the prevention of money laundering, countering of terrorist financing and the role they may play in tax evasion.

International banks are now facing strict rules under the ever-increasing standards of client identification and verification (Know Your Client: KYC). Banks are required to examine and scrutinise prospective clients; for firms, this may mean providing comprehensive company information as well as information on its directors and shareholders.

At FAI Comply, we have developed a banking network and expertise which enables us to not only advise our clients on the most suitable bank for them, but also to assist in the increasingly complex bank account opening process through the collection and proper completion of many documents, as well as interviews and meetings with bank representatives.

With our knowledge and experience of the numerous procedures, opening a bank or PSP account for your company need not be a complicated matter.

What can FAI Comply do for your business?

Provide professional advice on the selection and collaboration with well-established banks and Payment Service Providers.

Suggest the most suitable bank or PSP and practical options in accordance with your specific needs and requirements of your business.

Professionally undertake the bank account or PSP opening process, ensuring the process is as fast and integrated as possible.

Keep you up to date on your bank account status throughout the opening process.

Requirements regarding information vary according to the jurisdiction of incorporation and house policies of specific banks and PSPs.

Each bank and PSP has its own requirements for account opening. Requirements regarding information vary dependent on the jurisdiction of incorporation and house policies of specific banks. Please contact us to help you choose the right banking institution for your business activity.

What is a Payment Service Provider (PSP)?​

​The PSP model is different from a standard merchant account or payment gateway because it can integrate with multiple payment methods within a single platform. This offers a big advantage for national and international payments. A PSP encompasses payment processing, money collection and is responsible for contracts with banks and card acquirers for settling the funds collected. When you use a PSP for your business, you are not tied to one bank or payment network – your business will benefit from multiple integrated e-payment solutions such as e-wallets, e-banking and credit/debit cards.

Payment Service Provider: The key benefits

You only enter one contract to gain access to multiple banks and payment methods

You can add new payment methods quickly and easily

PSP fraud prevention resources and security reduce the risk of loss of revenue to your business

If you need advice or assistance in choosing the best business bank or PSP account for your business, our professional services will navigate the process quickly.

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GDPR Compliance Services

The EU General Data Protection Regulation (GDPR) is the most important change in data privacy regulation in 20 years. The regulation took effect on 25 May 2018, replacing the current European Data Protection Directive 95/46/EC, now providing one set of data protection rules for all companies operating in the EU, wherever they are based.

The GDPR applies to the processing of personal data of EU citizens meaning it not only applies to EU based organisations, but that it also applies to organisations that are based outside of the EU that offer goods or services to EU citizens or any organisation that processes the data of EU citizens.

If GDPR applies to your organisation, it is crucial that you ensure to implement the right processes to meet the 6 key principles of data protection. Failure to comply with the GDPR regulations could result in organisations being fined up to €20 million or 4% of annual global turnover – whichever is higher.

With our experience in implementing GDPR compliance measures, FAI Comply is able to assist organisations of all sizes to meet the requirements of the regulation and tailor the best approach to suit your needs.

What can FAI Comply do for your business?
  • Perform information audits and assessments on the company’s current processes

  • Develop tailored and practical solutions taking into account your company’s exact needs

  • Creation of information asset registers containing vital information for the understanding of the company’s processing of personal data

  • Creation of data flow maps

  • Creation or updating of policies and procedures related to privacy and IT security

  • Review of company’s legal documentation (client agreements, privacy notices, third party contracts, employment contacts etc.)

  • Data protection impact assessments

  • Provision of dedicated outsourced Data Protection Officer (DPO) or data protection consultancy support

  • Management and employee GDPR awareness/training sessions

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REGULATORY COMPLIANCE
SERVICES