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    The UK’s Journey to Payments Legislation & What We Can Learn in Canada

    About this event

    TCAE is excited to invite Mike Southgate and Amber D. Scott to discuss the UK’s journey to payment legislation and the similarities of it with the Canadian counterpart. Many similarities can be derived between Canada’s upcoming legislation changes and the EU’s Payment Services Directive. The most noticeable is the introduction of the safeguarding and safety of client funds.
    The session will look at the areas of similarity and explain the issues and problems that arose in the EU with the legislation in its first draft, and some of the unforeseen consequences that were encountered.
    The main areas of discussion will be centered around what happens when you offer in scope and out of scope services and the issues of explaining that to clients, and also the areas where safeguarding and reconciliation caused issues.
    Learning Outcomes
    • Similarities between the Canadian and UK’s payment legislation
    • Areas of caution that Canada should be aware of prior to legislative changes
    • Identify where firms may struggle and seek specific guidance and advice when implementing legislation
    Speakers
    Mike Southgate | Chief Operating Officer, Hamilton Court Foreign Exchange Limited
    Mike is part of the executive committee of AFEP where he works on the Banking Access, Financial Crime and technology streams, as well as providing training and workshops to the UK regulator, the Financial Conduct Authority. He is currently the COO for Hamilton Court FX, an Authorised Payment Institution and Mifid Investment firm, as well as developing his own financial crime Transaction Monitoring system named ERMI, which seeks to use more considered crime typologies to generate monitoring alerts. He also developed Luci, a free to use fraud tool for firms in the payment industry. He was previously an Associate Director at FSCom, a consultancy firm in the European payment services space, was the Compliance Director and MLRO of Google, and the Head of Compliance at Ebury Partners. Mike has a degree in Law, a Bachelors degree in management and Compliance, a postgraduate diploma in Risk and Compliance and is currently studying for his Masters in Preventing Organised Crime and Terrorism at UCL and builds cars at the weekends.
    Amber D. Scott | Founder, CEO & Chief AML Ninja, Outlier Solutions Inc.
    Amber is a compliance geek with a passion for technology. After graduating from the University of Waterloo, Amber joined the compliance group at one of Canada’s largest insurers where she focused on the implementation of technology-based processes to streamline compliance. She has since worked in in-house roles with major securities firms and banks. Somewhere along the line, she added MBA, CBP, and a few other letters after her name.
    Amber joined a boutique compliance consulting firm, then larger consulting firm, before getting frustrated enough with the status quo to launch Outlier Solutions Inc. (Outlier) in 2013. Outlier specializes in anti-money laundering (AML) and privacy compliance. The company is based on one of the premises of Malcolm Gladwell’s book Outliers: that to be really good at something you need a lot of practice (about 10,000 hours). Each of Outlier’s team members has 10,000 hours or more of in-house (not consulting) compliance experience. Amber loves leading this team of entrepreneurial compliance badasses.

    Date

    Oct 13 2021

    Time

    ET
    12:00 pm - 1:00 pm

    Cost

    Free
    Toronto Compliance & AML Events

    Organizer

    Toronto Compliance & AML Events
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    Speakers