April 2013 Newsletter – Developing a Risk Based Compliance Program
To assist with the overall objective to prevent money laundering and the financing of terrorism, the Financial Services (Implementation of Industry Standards) Regulations (FSIISR), 2011 adopts a risk based approach.
Read MoreMarch 2013 Newsletter – Becoming a Certified Anti-Money Laundering Specialist
Founded in 2001, the Association of Certified Anti-Money Laundering Specialists (ACAMS) is the premier membership organization devoted to professionals in the anti-money laundering field.
Read MoreFebruary 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.
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