March 2014 Newsletter – Recap of 2014 Seminar / Plans for 30th Anniversary Celebrations / FATCA
Under the theme “Redefining our Global Vision through Knowledge Enhancement” the Nevis Financial Services Regulation and Supervision Department held its annual AML/CFT Awareness Seminar and Training Workshop on Tuesday March 3 and Wednesday March 4, 2014.
Read MoreFebruary 2014 Newsletter – Training
Regulated entities have a duty to ensure that existing and new staff and any person exercising responsibilities specified in the Guidance Notes [Financial Services (Implementation of Industry Standards) Regulations] receive comprehensive training
Read MoreJanuary 2014 Newsletter – Transparency & Beneficial Ownership of Legal Persons
Competent authorities should be able to obtain, or have access in a timely fashion to, adequate, accurate and current information on the beneficial ownership and control of companies and other legal persons (beneficial ownership information) that are created in the country. Countries may choose the mechanisms they rely on to achieve this objective, although they should comply with the minimum requirements set out below
Read MoreDecember 2013 Newsletter – The Year In Review
Effective January 2013 all Corporate Service Providers were advised to submit a Certificate of Good Standing from the Registrar of Local Companies as a condition for renewal of their Registered Agent licenses.
Read MoreNovember 2013 Newsletter – Customer Due Diligence (CDD) cont’d
When performing elements (a) and (b) of the CDD measures specified under Recommendation 10, (identified on pg 1 of last month’s issue) financial institutions should also be required to verify that any person purporting to act on behalf of the customer is so authorised and should identify and verify the identity of that person.
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