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STEP CONFERENCE Trends in Regulation

STEP CONFERENCE Trends in Regulation. By: Shauna MacKenzie Director, Legal Services & Enforcement. 1. AML/ATF. New Standards Risk Based CDD Country Risk Industry Guidance Desk Based. 2. ENFORCEMENT . Additional Powers Process and Procedure Key Principles Fair Transparent

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STEP CONFERENCE Trends in Regulation

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  1. STEP CONFERENCETrends in Regulation By: Shauna MacKenzie Director, Legal Services & Enforcement

  2. 1. AML/ATF • New Standards • Risk Based • CDD • Country Risk • Industry Guidance • Desk Based

  3. 2. ENFORCEMENT • Additional Powers • Process and Procedure • Key Principles • Fair • Transparent • Appropriate • Overall Approach

  4. 3. GROUP SUPERVISION • Detailed Rules • Financial Stability Board

  5. 4. INFORMATION EXCHANGE • MMOU’s IAIS • Confidentiality Practices • BMA has signed ____ MOU’s • MMOU’s • Caribbean Regional Memorandum of Understanding • Memoranda of Understanding/ International Affiliations • BMA MOU's

  6. 5. TAX • OECD • Peer Review Assessment • Foreign Account Tax Compliance Act (FACTA)

  7. OBSERVATIONS/CONCLUSIONS • Implementation • Resourses for Industry • Proportionate • Guidance

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