ISSA - Principles for financial crime compliance: Clear, actionable and measurable

In 2014, ISSA (International Securities Services Association) the global securities industry’s representative body, began exploring the challenges in appropriately meeting the compliance requirements for a diverse range of regulation and legislation that was emerging at the time.

In early 2015, ISSA established a new Working Group to explore and understand the specific challenges in financial crime compliance. The Working Group was tasked to review the growing range of transparency regulations with a view to arriving at a series of clear, actionable and measurable principles for the industry to follow.

Through the Working Group, ISSA assessed the impact of various forms of regulation relating to financial crime and limited its scope to the post-trade landscape and securities transactions. The regulation reviewed primarily addressed cross-border transactions.

In this session the speakers will outline the principles that ISSA proposes and the tools that are available to the industry to provide greater transparency where required. Specifically, they will address the topics of proposed new AML/KYC standards, the role and impact of account structures on due diligence best practice, control in intermediated securities custody arrangements, disclosure principles and transparency of ownership.