This one-hour webinar examines the concept of Commercially Exposed Persons and how firms can identify, assess and manage the risks associated with such relationships. Delegates will explore the characteristics commonly associated with CEPs, understand how they differ from traditional PEP classifications and review the practical challenges of assessing source of wealth, source of funds and beneficial ownership in complex commercial structures. The session will also consider the expectations of regulators in the Isle of Man, Jersey and Guernsey, including the importance of adopting a risk-based approach supported by robust due diligence, ongoing monitoring and documented decision making.
Session content
- Understanding the concept of Commercially Exposed Persons (CEPs)
- CEPs versus Politically Exposed Persons (PEPs)
- Identifying higher-risk commercial relationships and ownership structures
- Source of wealth and source of funds challenges for CEPs
- Beneficial ownership transparency and complex corporate structures
- Common money laundering, bribery, corruption and sanctions risks
- Red flags associated with commercially exposed customers
- Applying proportionate enhanced due diligence measures
- Ongoing monitoring and governance considerations
- Lessons from regulatory reviews and enforcement activity
- Practical case study and good practice recommendations
Tutor
Lynsey Sykes Davis
Lynsey is an award-nominated financial services expert with over 28 years of industry experience. Formerly a Director and Financial Planner at a leading Wealth Management firm, Lynsey now empowers organisations and individuals as a consultant, trainer and coach. Lynsey creates impactful learning experiences, she has designed and delivered graduate banking programs for major banking organisations and consistently delivers exceptional results across compliance, regulation and financial crime training. Passionate about inspiring the next generation, Lynsey combines deep technical expertise with an engaging motivational style that transforms complex concepts into practical actionable knowledge.
