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BVI Updates and Streamlines Anti-Money Laundering Regime

April 2009

The British Virgin Islands has introduced an update to the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008 with effect from February 5, 2009 with the intent of modernizing and streamlining the jurisdiction's Anti-Money Laundering/Countering Financing of Terrorism requirements. The amendments will impact all BVI entities and professionals, including mutual funds, fund managers and administrators. Of particular relevance to funds is the practical recognition of industry practice with regard to who performs AML compliance functions and where such functions are carried out.

 

To continue reading full articles in PDF format:
BVI Updates and Streamlines Anti-Money Laundering Regime

 

A version of this article was also published by Complinet.

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Articles

BVI Updates and Streamlines Anti-Money Laundering Regime

09 April 2009

The British Virgin Islands has introduced an update to the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008 with effect from February 5, 2009 with the intent of modernizing and streamlining the jurisdiction's Anti-Money Laundering/Countering Financing of Terrorism requirements. The amendments will impact all BVI entities and professionals, including mutual funds, fund managers and administrators. Of particular relevance to funds is the practical recognition of industry practice with regard to who performs AML compliance functions and where such functions are carried out.

 

To continue reading full articles in PDF format:
BVI Updates and Streamlines Anti-Money Laundering Regime

 

 

expertise

Corporate


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