The newly comprised AIA Regulatory Oversight Committee (ROC) held its first meeting on 6 November 2019 at the headquarters of the Commonwealth Secretariat in London.
Reporting to the AIA Council, the ROC’s role provides an additional level of independent scrutiny to ensure AIA continues to meet its regulatory requirements as a supervisory body under Schedule 1 of the Money Laundering Regulations 2017.
Chaired by Council member George Josephakis, the ROC comprises industry experts in the fields of law enforcement and investigation, academic research, litigation and regulation and risk assessment.
Members of the ROC include Professor Jackie Harvey, who is currently working on a DFID funded project on beneficial ownership, former head of Northumbria Police Economic Crime Unit and Asset Recovery Team, Phil Butler and competition and regulatory law specialist, Stephen Tupper.
AIA Director of Operations David Potts said: “AIA takes its regulatory obligations seriously and we have brought together an expert group of independent professionals to ensure we continue to meet our requirements. An extra layer of independent scrutiny provides added assurance and drawing on the broad experience of a range of industry professionals helps bring in new thinking from outside AIA.”