Navigating Beneficial Ownership requirements: A Guide to the Trinidad  Tobago AML/CFT/CPF Regime

This essential workshop provides a comprehensive guide to understanding and complying with the Beneficial Ownership (BO) requirements within Trinidad and Tobago’s Anti-Money Laundering (AML), Counter-Financing of Terrorism (CFT), and Counter-Proliferation Financing (CFP) regime.

Participants will gain practical knowledge on the identification, verification, and documentation of ultimate beneficial owners under specified legal arrangements such as Customer Due Diligence (CDD) processes specific to beneficiaries, and Enhanced Due Diligence (EDD) for higher-risk scenarios, thereby assisting super vised entities to mitigate regulatory risk, avoid penalties, and strengthen its overall compliance framework.

At the end of the session, participants will:

• Understand the legal basis for Beneficial Ownership (BO) in T&T.

• Define "Beneficial Owner", "Legal Person", and "Legal Arrangement."

• Explain the Risk Base Approach in Customer Due Diligence (CDD).

• Detail the specific requirements for identifying and verifying Beneficial Owners.

• Outline the obligations for ongoing monitoring and record-keeping.

• Recognize the consequences of non-compliance.

Ulric Miller has extensive experience in the financial services sector, having operated for over forty-five (45) years in number of senior management positions. He is a Certified Anti-Money Laundering Specialist (CAMS), holds the designation of Associate in Insurance Regulatory Compliance (AIRC), and is a Fellow of the Life Management Institute. Mr. Miller has had a long-standing relationship with the TTII, having served as President of the Council of Trustees from 2003 – 2014. He currently lectures on the TTII’s State Licencing Examinations, CCPC, and CPD Workshops, in which the many subjects he teaches includes Anti-Money Laundering & Regulatory Compliance, Long-term Insurance Business, Strategic Planning, Ethics and Customer Service. He has also served as an adept change manager with special experience in leveraging IT, possesses a highly successful track record in Customer Relationship Management, Strategic Management and Scenario Planning. His unwavering dedication to leadership and management is reflected in his service as a member on various state and private boards. Regionally, he has also held the position of 1st Vice President of the Association of Insurance Institutes of the Caribbean (AIIC).