Anguilla -- Overseas Territory of the United Kingdom: Assessment of the Supervision and Regulation of the Financial Sector---Review of Financial Sector Regulation and Supervision
Anguilla is in the process of strengthening its legal and supervisory framework, which includes the creation of an operationally independent regulatory body, the Financial Services Commission. Priority should be given to improving the system for suspicious transaction reports, enhancing the customer due diligence requirements for introduced business, and conducting onsite inspections of company and trust service providers. The aim is to issue regulatory and industry codes that broadly meet the recommended best practices as contained in the draft Offshore Group of Banking Supervisors' Statement.
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AML/CFT framework AML/CFT laws AML/CFT regime AML/CFT requirements Anguilla Anti-Money Laundering appropriate assessment banking sector Basel Core Principles captive insurance Caribbean Central Bank Companies and Offshore company and trust company managers compliance confiscation consolidated supervision criminal CSP sector customer due diligence customer identification disclosure domestic banks Eastern Caribbean Central enhance extradition FATF Recommendation financial institutions Financial Services Commission financing of terrorism Governor Guidance Notes implementation industry International Business Companies international cooperation issued KPMG Laundering Reporting Authority licensed offshore banks Limited Liability Companies mission ML and FT Money Laundering Reporting monitoring offences Offshore Banking Act Offshore Financial Center onsite inspections operations Overseas Territories percent Proceeds of Crime proposed FSC prudential Recommended Action regulation and supervision reporting of suspicious responsibility September 2003 staff supervision of offshore suspicious activity reports TCOB terrorist financing Trust Companies trust services providers trust services sector