Course description

The subject of the discipline

The subject of the discipline “Financial Compliance” is the theoretical, organizational, legal and practical aspects of regulating the activities of financial corporations (banks, payment institutions and fintech companies) in the field of licensing, corporate governance, tax optimization through business offshoring, policy development and implementation. counteraction to financial transactions on legalization (laundering) of funds obtained by criminal means.

The purpose of the course is the acquisition of theoretical knowledge and the formation of professional competencies for the organization and conduct of financial compliance by international organizations, regulators and financial market participants involved in the implementation of financial transactions.

Main tasks:

In the process of studying the discipline it is necessary:

• to outline for students knowledge about the nature and evolution of the concept of financial compliance, its regulatory and financial components, defining the role and functions of international organizations, regulators and central banks in its implementation;
• to create students’ systematic understanding of theoretical, organizational and legal principles of licensing of financial companies, regulatory and legislative acts on financial compliance (and financial monitoring as its component) in Ukraine and globally;
• to describe for students an idea of the advantages and disadvantages of offshoring the business of financial corporations, determining the risks and ratings of different jurisdictions in terms of optimizing taxation and reducing other types of investor costs;
• to teach students the developing compliance programs and to determine the functions and powers of the compliance officer;
• to develop students’ skills in applying the principles of “Know Your Customer Identification” (KYC) based on a risk-based approach to opening accounts in banks and fintech companies, as well as the use of methods of working with insider information.