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Walkers launches compliance services offering

18/07/2018 News Team

Global offshore law firm Walkers has launched Walkers Compliance.

The new entity complements Walkers' legal, corporate and fiduciary services with the aim of delivering "a one-stop-shop for clients looking to use the Cayman Islands jurisdiction for their business needs."

While helping clients meet regulatory requirements, Walkers Compliance will provide compliance offering with services including:

- Designation of a natural person as Anti-Money Laundering Compliance Officer (AMLCO) responsible for compliance oversight and internal controls;

- Designation of a natural person as Money-Laundering Reporting Officer (MLRO) responsible for suspicious activity reporting;

- Designation of a natural person as Deputy Money-Laundering Reporting Officer (DMLRO) to assume the responsibilities of the MLRO in their absence;

-Client identification and verification procedures, including the collection and review of investor documentation as well as sanctions screening and ongoing monitoring; and

-Compliance gap analysis including the review of existing AML/CTF policies and procedures, and/or preparation of an AML/CTF manual.

In addition to the above, Walker Compliance's team can also assist with remediation projects, internal AML audits, regulatory inspections, general compliance advice and AML training.

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