Nevis Financial Services Regulatory Commission Conference
The annual Nevis Financial Services Regulatory Commission (FSRC) Conference was held on March 11th — 12th at the Four Seasons Resort, Nevis. The theme of the conference was “Conquering the Compliance Divide: Effective vs Defective — Bridging the Gap in Today’s Regulatory Environment.” There were over 200 attendees from the Nevis Financial Services sector including persons from law firms, trust and corporate service providers, compliance agencies, bank employees and others. Topics discussed included “FATF Methodology for Assessing Technical Compliance with the FATF Recommendations and the Effectiveness of AML/CFT Systems.”
The opening ceremony included remarks from Mr. Conrad Smithen, Ms. Heidi-Lynn Sutton Regulator, Mr. Colin Dore, Deputy Chairman Financial Regulatory Commission, and Hon. Premier Mark A.G. Brantley, Premier Ministry of Finance NIA. Keynote speakers included; Mr.Robert Mazur of KYC Solutions Inc, Regional Security System Asset Recovery Unit (RSS ARU) and the Financial Intelligence Unit of Trinidad and Tobago (FIUTT).
Key legislation and guidelines discussed at the conference included;
- FATF Methodology for Assessing Technical Compliance with the FATF Recommendations and the Effectiveness of AML/CFT Systems
- CFATF Fourth Round Mutual Evaluation Reports
- Anti-Terrorism Act, Cap 4.02
- Financial Services Regulatory Commission Act, Cap 21.10
- Anti-Terrorism (Prevention of Terrorist Financing) Regulations, 2011
- Financial Services (Implementation of Industry Standards) Regulations, 2011
- Guidelines for Designated Non-Financial Businesses and Professions (DNFBPs)
- Proceeds of Crime Act, Cap 4.28
- Financial Intelligence Unit Act, Cap 21.09
- Anti-Money Laundering Regulations, 2011
JH Marlin Law attends this conference on an annual basis ensuring that our organization is up to date on compliance, AML/risk assessment and Know Your Customer regulation in the region.
For anti-money laundering and compliance solutions contact: jennifer@jhmarlin.com
Jennifer Harding-Marlin / Attorney / jhmarlin.com
