Anguilla-Overseas Territory of the United Kingdom: Assessment of the Supervision and Regulation of the Financial Sector—Review of Financial Sector Regulation and Supervision

International Monetary Fund

No 2003/370, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; company manager; due diligence; draft Financial Services Commission; ECCB member country; CFT requirement; company registration; company service; disciplinary action; law enforcement authority; money laundering Reporting Authority; CFT regime; CFT law; foreign currency; UK Government white paper; CFT system; Anti-money laundering and combating the financing of terrorism (AML/CFT); Offshore financial centers; Money laundering; Terrorism financing; Caribbean (search for similar items in EconPapers)
Pages: 37
Date: 2003-11-26
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