Russian Federation Sanctions
Russia’s military intervention in Ukraine, purported annexation of Crimea, and ongoing violation of Ukraine’s sovereignty and territorial integrity breach its core obligations under international law and threaten international peace and stability.
Read MoreAugust 2014 Newsletter – Confidentiality
The Federation of St. Kitts and Nevis ensures that a high level of confidentiality is maintained within its Financial Services Sector through the enactment of various legislation, namely the Confidential Relationships Act, Cap 21.02, the Banking Act Cap 21.01, the Nevis Offshore Banking Ordinance Cap…
Read MorePhase 2 Peer Review of St. Kitts and Nevis by the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes
The Government of St. Kitts and Nevis is pleased to inform the general public of the release of the Phase 2 Peer Review Report of St. Kitts and Nevis’ exchange of information practices.
Read MorePeer Review Report Phase 2 Implementation of the Standard in Practice
This report summarises the legal and regulatory framework for transparency and exchange of information in St. Kitts and Nevis together with the practical implementation of that framework.
Read MoreJuly 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…
Read MoreFATF Advisory – improving global AML/CFATF Compliance 27 June, 2014
As part of its on-going review of compliance with the AML/CFT standards, the FATF has to date identified the following jurisdictions which have strategic AML/CFT deficiencies for which they have developed an action plan with the FATF.
Read MoreCFATF Public statement on Guyana and Belize
The Caribbean Financial Action Task Force (CFATF) issued a Public Statement on Guyana and Belize following its XXXIX Plenary Meeting in Miami, Florida over the period 25-29 May, 2014.
Read MorePublic statement under Step 3 of MONEYVAL’s Compliance Enhancing Procedures in respect of Bosnia and Herzegovina
The Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) has been concerned since December 20101 with deficiencies in the anti-money laundering/combating the financing of terrorism (AML/CFT) regime in Bosnia and Herzegovina.
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…
Read MoreOFAC Specially Designated Nationals and Blocked Persons List
OFFICE OF FOREIGN ASSETS CONTROL – Specially Designated Nationals and Blocked Persons List
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…
Individuals Subject to Assets Freeze and Travel Ban – 29th April, 2014
Individuals and entities designated as subject to the travel ban and assets freeze pursuant to resolutions 1737 (2006), 1747 (2007), and 1929 (2010) and the committee decisions of 18 April, 2012 and 20 December, 2012.
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