February 2013 Newsletter – Procedures for Change of Registered Agent
A corporation subject to this Ordinance shall at all times have a registered agent in St. Christopher and Nevis. A corporation which fails to maintain a registered agent in St. Christopher and Nevis shall be in contravention of this Ordinance. (NBCO 17 (1); NLLCO 14(1))
Read MoreJanuary 2013 Newsletter – Identification Procedures in Relation to Introduced Persons
An intermediary is a person who has or seeks to establish a business relationship or to carry out a one-off transaction of that person’s customer with a relevant person so that the intermediary becomes a customer of the relevant person. (AMLR reg7(8)(a))
Read MoreNovember 2012 Newsletter – Guidelines for Appointment of Auditors
The Financial Services Regulatory Commission Act, 2009 as amended (FSRCA) imposes a statutory duty on regulated entities to submit audited financial statements within three months of the end of the financial period.
Read MoreOctober 2012 Newsletter – Client Acceptance Procedures
Regulated businesses must recognise the increasing importance of ensuring that adequate procedures are in place to know the customers with whom they are dealing. Adequate due diligence on new and existing customers is a key part of these procedures. Without proper due diligence, regulated entities can be subjected to reputational risks.
Read MorePeer Review Report Phase 1 Legal and Regulatory Framework
This report summarises the legal and regulatory framework for transparency and exchange of information in St. Kitts and Nevis. The international standard which is set out in the Global Forum’s Terms of Reference to Monitor and Review Progress Towards Transparency and Exchange of Information, is concerned with the availability of relevant information within a jurisdiction, the competent authority’s ability to gain timely access to that information, and in turn, whether that information can be effectively exchanged with its exchange of information partners.
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