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Oyster to follow up on successful seminar

A successful seminar that included a talk on cybersecurity and the US regulatory environment is to be followed up by a series of “lunch and learn” sessions.

Oyster Consulting (Bermuda) Ltd, which last week ran a regulatory compliance workshop to discuss systems security, changes to anti-money laundering and antiterrorist financing laws and investment advisory business in the US, will start the lunch sessions next month.

Alison Morrison, managing director of Oyster Consulting (Bermuda), said: “I was delighted with the overwhelming interest in attending our first seminar.

“I think all three topics were relevant and in light of local regulatory changes, very timely for those in attendance.

“Oyster is unique in being able to bridge the regulatory gap between Bermuda and the US and now with our office in Luxembourg, we can also help clients navigate the European regulatory regime.”

Henry Komansky, a consultant at the company, said: “We regularly advise clients to take control of their AML/ATF regime by following a few key concepts — know your business, know your customer, conducting an annual AML/ATF audit and periodically addressing their AML/ATF and sanctions risk in relation to their business.”

Buddy Doyle, founder of Oyster Consulting LLC, added: “Oyster Consulting is in the business of helping organisations start, run, grow and protect their firm.

“The rapidly evolving markets, regulatory changes and enforcement actions, combined with emerging threats from criminals, is creating an unprecedented amount of change.

“Unfortunately, compliance officers often do not have the resources they need to meet today's regulatory and risk environment.”

Hank Sanchez, managing director of Oyster Consulting LLC, discussed the US regulatory environment, the Securities and Exchange Commission Focus for 2016, and what firms can look for in 2017 and beyond.

Among those attending the seminar was Teresa Gallant, chief financial officer and managing director of ILS Capital Management Ltd. She said: “It was an excellent seminar. I learnt a lot and the presentations were very relevant to my line of work.”

While Sean Moran, business development manager with the Bermuda Business Development Agency, said: “I found the seminar very informative and timely. With so many changes happening so rapidly in the world of regulation and compliance, it was valuable to hear updates on the current issues facing fund industry professionals, including AML/KYC, cybersecurity, and the SEC's new Investment Advisor rules.

“The presentations by Henry, Hank and Buddy also served to demonstrate the strength and expertise of Oyster Consulting's team. It is certainly an asset for Bermuda to have such a high quality group represented here; it reinforces the message that our jurisdiction is developing into a hub for regulatory compliance expertise and talent.”

For further information on the lunch and learn sessions, or on other compliance topics, contact Mr Komansky at henry.komansky@oyster.bm or visit www.oyster.bm.

Seminar success: from left are Oyster Consulting's Henry Komansky, Buddy Doyle, Alison Morrison, and Hank Sanchez (Photograph supplied)

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Published August 04, 2016 at 9:00 am (Updated August 03, 2016 at 8:37 pm)

Oyster to follow up on successful seminar

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