The total number of licenses issued for the period is down year-on-year, where there were seven new Class B formations in Q3 2017, including two third-party insurers.
Whilst the Electronic Transactions Law was drafted with a degree of “future proofing” in mind, and is arguably sufficient to encompass many of the uses of technology that exist today, the certainty that the new legislation will bring is to be
Under the UK’s Money Laundering, Terrorist Financing and Transfer of Funds law British regulated businesses are obliged to “take into account geographical risk factors” when assessing risk and the extent of anti-money laundering measures
The most important change to the EIF regime, introduces new criteria, used to determine those persons who are considered eligible by the GFSC, for the management and control of an EIF.
The banks and trust companies, which incorporate and manage companies under their regime, also have a duty to know the beneficial ownership.
The training program will help to strengthen the institutional capacity of the Government and to identify best practices and knowledge to improve the quality of government services and, therefore, increase citizen satisfaction