July 2014 Newsletter – Designated Non-Financial Businesses and Professions (DNFBPs)
In view of increased legislative requirements for financial institutions to develop and implement measures to combat money laundering and terrorist financing, money launderers may look at DNFBPs to try and conceal laundered proceeds and revenues of crimes. Thus, there is potentially, significant risks in the services offered by this sector being misused for money laundering and the financing of terrorism.
Read MoreJune 2014 Newsletter – How to Become a Licensed Registered Agent for International Insurance
The NIIO was enacted in April of 2004 and has provided registered insurers and auxiliary service providers the ability to carry on related business from within Nevis. These types of businesses require the use of proper supervision and regulatory guidelines in order to ensure that there are flexible and progressive provisions, while at the same time maintaining strong regulatory standards.
Read MoreMay 2014 Newsletter – Developing an AML/CFT Compliance Programme
All regulated entities must develop an Anti-Money Laundering and Counter Terrorist Financing (AML/CFT) Compliance Programme which is designed specifically for its business. The following information will assist regulated entities in developing a written AML/CFT Compliance Programme which is
to be submitted to the Nevis Financial Services (Regulation and Supervision) Department (NFSD) in accordance with Regulation 12(2) of the Anti-Money Laundering Regulations, No. 46 of 2011 (AMLR).
April 2014 Newsletter – Plans for 30th Anniversary Celebrations
Plans for 30th Anniversary Celebrations; Policy & Procedure Tips; 1st Quarter Comparison from 2012—2014; Reminders
Read MoreMarch 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.
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