December 2016 Newsletter – The year in review
Beginning in January 2016, regulated entities were required to seek approval for the Appointment of the Compliance/Reporting Officer.
Read MoreStatistical Bulletin – 3rd and 4th Quarter 2016
The graphs below provide important statistics on the monthly incorporation and registration activities of the Financial Services Registry.
Read MoreNovember 2016 Newsletter – How to undertake a risk assessment
Based on the regulatory reviews conducted in 2014 and 2015, Examiners of the FSRC noted that one recurring area of weakness is the absence of a risk assessment being conducted by regulated entities. This month’s newsletter highlights how to develop and implement a risk assessment as an important component…
Read MoreSeptember 2016 Newsletter – Financial Information Month 2016
Financial Information Month is a regional financial, economic, business and entrepreneurial education campaign executed in the Eastern ean Currency Union (ECCU) since 2002 through the collaborative efforts of the Eastern Caribbean Central Bank, ECCU member governments, financial and academic institutions,
the…
August 2016 Newsletter – Continuation of the FATF Recommendations and Guidance for the Money Services Business (MSB) Sector
In this issue, the most relevant FATF Recommendations are highlighted below together with a brief summary of the legal, regulatory or administrative measures that are in place to comply with each recommendation.
Read MoreSt Kitts and Nevis Signs Multilateral Convention on Mutual Administrative Assistance in Tax Matters
The Federation of St. Kitts and Nevis has signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters.
Read MoreNevis Trading Group LLC
The Financial Services Regulatory Commission, Nevis Branch has recently been made aware that Nevis Trading Group LLC
Read MoreJuly 2016 Newsletter – AML/CFT Guidelines for the Management of Risks Related to Money Services Businesses
In recent years tougher regulatory scrutiny over the implementation of AML/CFT laws has seriously impacted money services businesses (MSBs) globally, threatening their relationship with the conventional banking sector.
Read MoreNotice to the General Public
The Financial Services Regulatory Commission (FSRC) wishes to advise the General Public to proceed with caution when approached by any person or representative of a business entity who may be offering a financial service without a local licence.
Read MoreOnline Casino and Online Gaming
The Financial Services Regulatory Commission (FSRC) wishes to advise the General Public, that online casinos and online gaming are not currently licensed or authorized to conduct business from or within the Federation of St. Kitts and Nevis.
Read MoreJune 2016 Newsletter – Licensing & Ongoing Supervisory Framework for Insurance Companies
The AML/CFT measures in the financial sector are issued by the Financial Action Task Force (FATF). The International Association of Insurance Supervisors as with other international policy shapers for the respective various sectors support such recommendations.
Read MoreCFATF Public Statement on Haiti and Suriname
On the 8th day of June, 2016, the Caribbean Financial Action Task Force (CFATF) issued a Public Statement on Haiti, a jurisdiction with strategic AML/ CFT deficiencies. Haiti has not made sufficient progress in addressing the deficiencies or has not complied with the Action Plan developed with the CFATF…
Read More