The Commission has published a Consultation Paper containing proposals, which, if implemented, would allow different investor categories to take advantage of an appropriately regulated fund structure. The proposed amendments would complete the current approach for
Handbook on Countering Financial Crime and Terrorist Financing
The Commission has updated Appendix I to the Handbook after the announcement that Iceland and Mongolia are no longer under increased monitoring by FATF because of their strengthened AML/CFT regimes. Iceland has been removed from Appendix I, but Mongolia will remain as it continues to be listed by a relevant external source.
Part of The Commission’s update has included the addition of the North Sinai region and the removal of Bhutan and Saudi Arabia. Due to the high risk of money laundering and/or terrorist financing, firms are encouraged to review the updated Appendix I in order to assess the impact that these changes may have on their business.
The FATF page on High-Risk and Other Monitored Jurisdictions can be found here.
Updated and tracked versions of Appendix I can be found here.
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For further information & guidance, please contact the Advisory Team at Aspida via firstname.lastname@example.org
The Commission has published a Consultation Paper seeking feedback on proposals for changes to the Non-Guernsey Scheme regime. If the proposal is implemented any entity undertaking a restricted activity in or from within the Bailiwick
The Commission has published new guidance aimed at providing clarification about Designated Custodians’ duties and the standards of conduct that are expected of them when they act for Open-Ended Collective Investment Schemes. Designated Custodian should