DSI Financial Crime Professional Posted on October 3, 2023 at 2:19 pm.Written by roelandjongejan In close collaboration with the industry, DSI has decided to launch a new register specifically aimed at professionals dedicated to preventing financial crime: the DSI Financial Crime Professional register. This register provides uniform quality standards for the various professionals involved in the fight against financial crimes. Increase in roles related to financial crime. Financial institutions such as banks and investment firms play a crucial role in preventing money laundering and terrorist financing, often referred to as the gatekeeper function. The number of professionals engaged in combating financial crime has significantly increased in recent years. These professionals work in areas such as Customer Due Diligence (CDD), Know Your Customer (KYC), Anti Money Laundering (AML), and sanctions. Uniform quality requirements with an independent register. An important consideration for establishing a register is that employees involved in CDD, KYC, AML, and sanctions must demonstrate competence. Regulators are paying increasing attention to this aspect. Currently, various training programs are offered in this field, varying in depth and assessment. Our discussions with DSI member companies have revealed a need for uniform quality requirements for this professional group. These requirements should be established and monitored by an independent and expert certifying body. DSI believes that such an initiative aligns well with its existing certifications for investment and compliance professionals. Through the new register, DSI aims to ensure a baseline level of competence and integrity for this professional group. In addition to uniform training requirements for entry into the register, there will also be an obligation to undergo continuous education. DSI’s code of conduct and disciplinary procedures will also apply. Training Requirements Currently, we are formulating training requirements for the new register. We have asked several training providers to provide input on existing training programs and learning objectives. We are also aligning these requirements with international standards. The DSI Compliance Professional Advisory Committee, like the DSI Accreditation Committee, is involved in determining the final training requirements for the new register. After the publication of learning objectives, providers of financial crime training programs will have the opportunity to apply for accreditation. The register is expected to launch in Q1 of 2024. Contact Information For questions about the new register, please contact Mark van der Lecq (Lead Legal DSI) via our contact form.
ESMA Final objectives updated Posted on February 7, 2022 at 12:11 pm.Written by roelandjongejan DSI, together with its advisory committees and accreditation committee, has updated the so-called final objectives for the initial examinations of DSI-ESMA registers. Following on from this, we have asked the DSI accredited educational institutions to adjust the initial exams as well. With this, investment professionals entering from 1 January 2023 will take an exam that responds to the most important developments in recent years. A DSI certified investment professional meets the legal professional competence requirements. This professional has completed the necessary DSI-accredited exams and will complete the Continuing Professional Education Program. The exams meet the legal requirements drawn up by ESMA a few years ago. On the basis of these legal requirements, DSI, together with its advisory committees and accreditation committee, has established so-called attainment targets. The accredited exams are derived from this. This ensures that legally required knowledge components are part of the exams. Because these attainment targets were established a few years ago and additional themes have been added to the program in recent years (via the Continuing Professional Education program), DSI found it necessary to update the initial attainment targets. These have since been updated and adopted by the advisory committees and the accreditation committee. Look here for the updated final objectives. We have asked trainers to update the initial exams on the basis of these new attainment targets. It is expected that these updated exams will be administered from 1 January 2023. Of course, this update has no consequences for certified persons who have already completed the exam and who follow the Continuing Professional Education program. The update is intended to allow investment professionals entering the field to take an exam, including the most important developments from recent years. Do you have questions about the updated learning outcomes or general questions about the ESMA exams? Please contact our Certification department: certification@dsi.nl.