September 2013 Newsletter – Mutual Exchange of Information on Taxation Matters
The purpose of the Saint Christopher and Nevis (Mutual Exchange of Information on Taxation Matters) Act, 2009
Read MoreTrading Avenue LLC
The Nevis Financial Services Regulation and Supervision Department wishes to advise that the statement contained on website
Read MoreAugust 2013 Newsletter – How to Achieve Better Corporate Governance Vol. 1
Corporate governance refers to the set of systems, principles and processes by which a company is governed. They provide the guidelines as to how the company can be directed or controlled such that it can fulfil its goals and objectives in a manner that adds to the value of the company and is also beneficial…
Read MoreJuly 2013 Newsletter – Governance, Risk, Management & Compliance (GRC)
Governance, risk management, and compliance or GRC is the umbrella term covering an organization’s approach across these three areas. Being closely related concerns, governance, risk and compliance activities are increasingly being integrated and aligned to some extent in order to avoid conflicts, wasteful…
Read MoreJune 2013 Newsletter – Politically Exposed Persons (PEPs) Risk
Politically Exposed Persons – will include senior political figures, their immediate family and close associates.
Read MoreMay 2013 Newsletter – Detecting and Reporting Suspicious Activities
In an effort to combat money-laundering, it is increasingly more important for regulated entities to develop effective methods to detect and filter suspicious activities. Regulated businesses must be alert to the implications of the flows and transaction patterns of existing customers, particularly where…
Read MoreApril 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.
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…
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