March 2015 Newsletter – Recap of 2015 Seminar
On March 3 and 4, 2015, the Nevis Financial Services Department held its annual Seminar and Training Workshop at the Four Seasons Resort, Nevis under the theme, “De-risking your Institution by Improving the Culture of Compliance.”
Read MoreFebruary 2015 Newsletter – 2015 AML/CFT Seminar & Training Workshop
The Nevis Financial Services Department will be hosting its annual AML/CFT Seminar and Training Workshop on March 3rd and 4th at the prestigious Four Seasons Resort, Nevis. This training is in alignment with the Department’s commitment to ensure that employees of regulated entities receive the necessary training in accordance with paragraphs 131 — 134 of the Financial Services (Implementation of Industry Standards) Regulations, 2011.
Read MoreJanuary 2015 Newsletter – Reporting Regulations for Regulated Entities
Regulated Entities are granted licences based on the information and circumstances presented at the time of application. Appropriate checks and verification, including ‘fit and proper’ assessments are undertaken and based on the results, licences are either granted or denied.
Read MoreDecember 2014 Newsletter – The Year In Review
All Regulated Entities were advised of the new requirement to submit an Application for Renewal of Licence as a Service Provider. Renewal licences will not be issued unless a completed renewal form is submitted along the all applicable supporting documentation and the prescribed fee.
Read MoreNovember 2014 Newsletter – Assessing Risk in Business Relationships
Regulated entities should assess the risk of doing business both prior to and throughout the duration of every business relationship. Assessing risk should not be a ‘one-size fit all’ operation but each regulated entity should incorporate most of the following factors when assessing risk to their company.
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