CFATF Public Statement – Trinidad (May 31 2017)

On the 31st day of May, 2017, the Caribbean Financial Action Task Force (CFATF) issued a Public Statement which highlighted the progress made by Haiti in establishing its AMF/CFT regime. Haiti was identified as a Jurisdiction with strategic AML/CFT deficiencies that has made significant progress in addressing its deficiencies. Haiti is therefore encouraged to continue the reform process and demonstrate futher progress by the November 2017 Plenary for the outstanding deficiencies. 

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Statistical Bulletin – 1st and 2nd Quarter 2017

The graphs below provide important statistics on the monthly incorporation and registration activities of the Financial Services Registry.

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June 2017 Newsletter – Guidelines for Independent Internal AML/CFT Audit

One of the areas assessed by the FSRC – Nevis Branch during an onsite inspection is whether or not a regulated entity has performed an independent internal audit (“audit”) to test and validate activities to mitigate against money laundering/financing of terrorism risks. This is done to determine if the regulated entity adequately reviews internal control procedures to ensure compliance with AML/CFT Laws and Regulations.

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Statement on La Providence LLC / La Providence Ltd

The Financial Services Regulatory Commission (FSRC) – Nevis Branch also referred to as the Nevis Financial Services (Regulation and Supervision) Department issues this statement in light of the recent circulation of documents on the internet purporting to show that the French Presidential candidate, Emmanuel Macron created a company on the island of Nevis.

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May 2017 Newsletter – Fitness & Propriety

The information herein is provided to assist regulated entities in applying the fit and proper test to relevant persons. A relevant person is defined in the AMLR as a person carrying on relevant business. Relevant business is defined as engaging by way of business in one or more of the businesses or transactions referred to in relation to a regulated person. A regulated person means any person carrying on a regulated business activity as defined under the Proceeds of Crime Act (POCA).

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