Dr. Tanya McCartney

The Companies Office of Jamaica plays a critical role in the fight against money laundering, terrorism financing, and the illegal proliferation of arms. Chief Executive Officer (CEO) and Registrar of Companies at the COJ, Shellie Leon, shared insights on compliance and the organization's interest in hearing directly from stakeholders about the challenges they face. Together, we're strengthening compliance efforts to foster transparency and integrity within corporate structures. #ComplianceMatters #JIFS #AMLCFT

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The safety and security of our community are of utmost importance to the Cayman Islands Government. Our strategic priorities outline a comprehensive approach to strengthening public safety, ensuring that our islands remain a haven of peace and stability. Visit gov.ky/priorities to find out more. #GovernmentPriorities #CaymanIslands

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Informative event hosted at the office of Gibraltar Finance attended by Emma Zammitt and Paul Astengo and #UBO Registrar Julian Baldachino together with a cross section of regulatory, law enforcement and competent authorities from #Gibraltar. Beneficial ownership registers are databases that collate information about companies ‘real owners. These ‘real’ or beneficial owners ultimately own or control a company, even if their name isn’t on the legal paperwork. These registers are designed to increase transparency in corporate ownership, making it harder for illicit activities to hide behind the veil of corporate anonymity. Beneficial ownership registers serve several crucial functions. They assist domestic law enforcement and other competent authorities in investigating criminal activities, enhancing public accountability. They also deter crime by making it more challenging for corrupt individuals and criminals to hide their operations behind anonymous companies. Moreover, these registers facilitate international cooperation and information sharing, aiding in investigating cross-border cases and tracking illicit financial flows. The Register of Ultimate Beneficial Ownership (#RUBO) is an important part of the fight against bad actors and ongoing development and education is a key part of the strategy employed. Delivered by @David Parody. #ThinkCompliance #ThinkGibraltar Financial Action Task Force (FATF) Gibraltar Financial Services Commission Gibraltar Financial Intelligence Unit HM Government of Gibraltar Nigel Feetham KC MP Annette Perales Royal Gibraltar Police Legal Services Regulatory Authority Office of Fair Trading #MinistryofJusticeTradeandIndustry #MJTI

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Legal Tidbits Series - Unique Laws around the World Under the Defence Act (Chapter 159 of the Laws of Barbados), it is an offense for any person who is not a member of the military to wear, use, or display any item of clothing or other items that are similar to military attire. This includes camouflage patterns, which are reserved exclusively for military personnel. The rationale behind this law is to ensure that there is no confusion between civilians and military personnel, to maintain the authority and distinction of the military, and to prevent potential misuse or impersonation that could arise from civilians wearing military-like attire. The enforcement of this law means that wearing camouflage clothing or accessories, even if they are not intended to resemble official military uniforms exactly, is prohibited for civilians in Barbados. Violators can face fines and confiscation of the illegal attire. 🎓 Audio Law Reader: Your Ultimate Study Companion for Law 🎓 Download from Play Store: https://lnkd.in/eBqZjcgW Or visit us at: audiolawreader.com #law #lawstudent #lawschool #lawstudies #legal #legaleducation #lawyer #attorney

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The Privy Council examined, an appeal from the Court of Appeal of the Eastern Caribbean Supreme Court (BVI) in Sian Participation Corporation (In Liquidation) v. Halimeda International Ltd [2024] UKPC 16, which addressed whether a company should be wound up when the debt upon which the winding up application is based is subject to an arbitration agreement and is disputed or the subject of a cross-claim. The appeal referred to two opposing areas of public policy: (i) insolvency, which seeks to ensure the fair distribution of assets to a company's creditors where a company cannot pay its debts; and (ii) arbitration, which intends to maintain the parties' accord regarding their preferred forum for dispute resolution devoid of judicial intervention. Regardless of whether the parties have agreed to an exclusive jurisdiction or arbitration clause, the Privy Council determined that the appropriate standard for the court to apply is whether the debt is disputed on genuine and substantial grounds. (a) Link to the decision: https://lnkd.in/gKEiEhAF or (b) view other cases https://lnkd.in/epMrU3jU) or request to speak with a Prime Dispute Fellow - please email [email protected]

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Information that is useful

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The Ministry of Investment, Innovation, and Social Development (MIISD) announces Cabinet’s approval of major amendment bills designed to enhance protections for children, young people, and older persons in the Cayman Islands. Amendment Bills Overview: • Older Persons (Amendment) Bill, 2024 : Strengthens rights for older persons with new protections against abuse, neglect, and the establishment of an Older Persons Tribunal. • Children (Amendment) Bill, 2024: Expands mandatory abuse reporting and emphasises the child’s voice in key decisions. • The Adoption Bill, 2024: Modernises adoption processes with transparency and child welfare at its core. • The Maintenance (Amendment) Bill, 2024: Streamlines child maintenance provisions for stronger financial protections. 📢 Public Consultation: We want to hear from you – your feedback is invaluable in shaping the future of social protections in the Cayman Islands. All bills are open for public consultation until Monday, 25 November 2024. Share your thoughts and help us ensure these reforms truly reflect our community's needs: publicconsultation.gov.ky #CaymanIslands #SocialDevelopment #PublicConsultation

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The Spectrum Management Authority (SMA) of Jamaica operates as an independent agency, advising the Minister of Science, Energy and Technology on spectrum management. Key Implications: - Autonomous decision-making - Impartial spectrum allocation - Unbiased regulatory oversight - Flexibility in policy implementation - Enhanced accountability Benefits: - Promotes fair competition - Ensures efficient spectrum use - Supports innovation and growth - Maintains transparency and integrity - Fosters international cooperation The SMA's independence ensures Jamaica's telecommunications sector remains competitive, innovative, and aligned with global best practices. ==================== 𝗩𝗶𝘀𝗶𝘁 𝘂𝘀 𝗮𝘁: www.sma.gov.jm ==================== #smagovjm #SpectrumManagementAuthority #customclearance #dataprotection #bandplanning #smajamaica #digitaltransformation #didyouknow #kingston #organization #telecommunication #caribbean #kingstonjamaica #tech #technology #jamaica #transformation #radiospectrum #radio #wirelesscommunication #development #technologies #frequency #license #data #licensingprocess #telecommunications

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🤝 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡𝐞𝐧𝐢𝐧𝐠 𝐓𝐢𝐞𝐬: 𝐁𝐞𝐥𝐢𝐳𝐞 𝐚𝐧𝐝 𝐉𝐚𝐦𝐚𝐢𝐜𝐚 𝐂𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐞 𝐨𝐧 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐑𝐞𝐠𝐢𝐬𝐭𝐫𝐲 𝐁𝐞𝐬𝐭 𝐏𝐫𝐚𝐜𝐭𝐢𝐜𝐞𝐬 🌐 The Financial Services Commission and Belize Companies & Corporate Affairs Registry are undertaking an information exchange mission with the Companies Office of Jamaica. This mission aims to delve into Jamaica's experiences and best practices in business entity registration, compliance and monitoring, business ownership registry, anti-money laundering, combating the financing of terrorism (AML/CFT), and society registry. By learning from Jamaica's successful practices and sharing knowledge, the Financial Services Commission and the Belize Companies and Corporate Affairs Registry reaffirm their commitment to enhancing operational effectiveness and fostering excellence in regulatory practices. . . . #FSC #FSCBelize #bccar #CompaniesOfficeofJamaica #BusinessCollaboration #businessregistry #InformationExchange #bestpractices

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🚨 FATF Grey List Update June 2024 On June 28, 2024, Jamaica and Türkiye have been successfully removed from the FATF Grey List, also known as the Jurisdiction under Increased Monitoring list. This list includes countries actively working with the FATF to address strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing. During the recent FATF plenary meeting, Jamaica and Türkiye were confirmed to have completed their action plans to resolve the identified deficiencies within the agreed timeframe. Consequently, they have been removed from the FATF Grey List. Changes in FATF Grey List: Countries Removed from FATF's Grey List (Jurisdiction Under Increased Monitoring): 1️⃣ Jamaica 2️⃣ Türkiye Countries Added to FATF's Grey List (Jurisdictions under Increased Monitoring): 1️⃣ Monaco 2️⃣ Venezuela 🚨 FATF Grey List as of 28th June 2024: 1️⃣ Bulgaria 2️⃣ Burkina Faso 3️⃣ Cameroon 4️⃣ Croatia 5️⃣ Democratic Republic of the Congo 6️⃣ Haiti 7️⃣ Kenya 8️⃣ Mali 9️⃣ Monaco 🔟 Mozambique 1️⃣1️⃣ Namibia 1️⃣2️⃣ Nigeria 1️⃣3️⃣ Philippines 1️⃣4️⃣ Senegal 1️⃣5️⃣ South Africa 1️⃣6️⃣ South Sudan 1️⃣7️⃣ Syria 1️⃣8️⃣ Tanzania 1️⃣9️⃣ Venezuela 2️⃣0️⃣Vietnam 2️⃣1️⃣ Yemen Source: Jurisdictions under Increased Monitoring June 2024 (fatf-gafi.org) #fatf #greylist #financialcompliance #regulations #aml #mica #vara #sec #ecb #amla #crytpo #fintech

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Registration for Fraud in Focus: Learning to Identify, Prevent and Report event, scheduled for 7:00 am on 05/24/2024, is now open. Click here to register: https://lnkd.in/epKCPXXB             Location: Embassy Suite, Isla Verde, 8000 Tartak Street, Isla Verde, PR, 00979 Time(s): 7:00 am - 6:00 pm Speakers and Topics:   Lcdo. Milton Méndez Falcon, CFE,AML, Fraud, Legal Consultant at Milton Méndez Law Office Advanced Techniques for Detecting Fraudulent Activities Maritza Ramos Sallas, CIA, CFSA, CRMA, CFE, MBA; Retired, Cooperativa de Seguros Multiples de Puerto Rico Building a Robust Fraud Prevention Strategy Melvin Valle López The Role of Technology in Combatting Fraud TBA Enhancing Fraud Awareness and Reporting Mechanisms Learning objectives: Upon completion of the course the participants must be capable to: *Understand sophisticated methods used by fraudsters. *Learn cutting-edge tools and technologies for fraud detection. *Enhance skills in identifying red flags and patterns of fraudulent behavior *Develop a comprehensive fraud prevention framework. *Implement effective internal controls and processes to deter fraud. *Create a culture of ethical conduct and accountability within the organization. *Explore the latest advancements in fraud detection technology *Understand the benefits and limitations of AI, machine learning, and data analytics in fraud prevention. *Learn how to leverage technology to strengthen fraud detection and response capabilities. Instructional delivery method: */InstructionDeliverMode/* Field of Study: Auditing CPE credit(s): 7 hour(s) Advanced preparation: None required Program level: Basic Course registration requirements: To register for this event, click here: https://lnkd.in/epKCPXXB Refund, complaint, and cancellation policy: Please view our refund, complaint, and cancellation policies on Puerto Rico (theiia.org). If you have any questions, please feel free to reply to this email or contact us at [email protected].  Sincerely,

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For Cayman financial services professionals…

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Driving Innovation: T&T's Path to Global Competitiveness is the title of my article in the latest edition of Who's Who of Trinidad and Tobago Business magazine 2024-2025. It covers the ISO 56001, the urgent need to manage innovation, local examples of firms growing via innovation and the national innovation standard. The article is in the Manufacturing and Retail Distribution section and can be found on page 122. Special thanks to Who's Who in Trinidad & Tobago Business and the Trinidad and Tobago Bureau of Standards for their continued support.

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The document, titled "The Reality Facing Caribbean Financial Institutions," authored by morvin williams from the Financial Services Regulatory Commission of Antigua and Barbuda, addresses the phenomenon of de-risking and its significant impact on Caribbean financial institutions. De-risking involves financial institutions terminating or restricting business relationships to avoid, rather than manage, risk associated with anti-money laundering (AML) and countering the financing of terrorism (CFT) regulations. The document explores several factors driving de-risking practices, including regulatory pressures to enhance AML/CFT controls, which have increased the operational costs for banks, and business decisions based on profitability concerns. Another contributing factor is the consolidation in the banking sector, where mergers and acquisitions lead to the re-evaluation and often cessation of risky services previously offered by acquired entities. To mitigate the negative impacts of de-risking, the paper proposes several measures. There is also a strong emphasis on enhancing the AML/CFT frameworks to align with international standards, which could help reassure correspondent banks about the reduced risks of maintaining banking relationships with Caribbean financial institutions. The document advocates for a balanced approach, integrating regulatory compliance with measures to ensure that banks can continue to support essential economic functions without disproportionate costs or barriers. #AML #Compliance #FinCrime #Derisking #AMLWatcher

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Cayman Islands Monetary Authority publishes AML/CFT Activity Report for 2022 The Cayman Islands Monetary Authority (“CIMA”) has recently published its annual AML/CFT Activity Report for 2022 and there are a few points worth noting. Members of our team share their analysis and you can also check the report on this link: https://lnkd.in/dvrnNkiv Follow us for more updates. #amlcompliance #CFT #caymanislandslawfirm #CIMA #InvestmentTrends

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I am excited to hear what my colleague, Ms. Grace Bhagwandeen, has to share about the Role of Directors and Directors' Duties in Combatting Financial Crimes. This presentation promises to be both insightful and empowering. Join us to gain valuable insights, practical strategies, and answers to your pressing questions. Let’s learn and grow together! #Webinar #EducationLaw #ProfessionalDevelopment #LifelongLearning #SupportColleagues #coprorategovernance #caribbeanperspective

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