Financial Services Commission (FSC) Belize’s Post

Beneficial Ownership Registration with the Companies and Intellectual Property Commission (CIPC) in South Africa involves the disclosure of information about individuals who ultimately own or control a company. This process aims to enhance transparency and combat financial crimes such as money laundering and terrorism financing. Let us assist you with your compliance. Contact us on: 067 811 1385 Please Note: Our service fee covers only the work involved in preparing and filing your CIPC Annual Returns. It does not include any penalties for late submissions, additional costs related to registration, or any other fees that may arise in the process. For a comprehensive understanding of all potential costs, please feel free to contact us. Follow our Business Mentoring Account on Instagram @__shempowered__ with Choeminey Engelbrecht as she walks this journey with you and gives you insight on how to navigate the South African Business Market. #southafrica #compliancematters #womanowned #CIPC #Newbusiness #Simplysimlehr #womaninbusiness #businessregistrations #annualreturns #coidaregistration #Businessregistration #taketheleap #beneficialownershipinformation #BeneficialOwnership

UAE has been removed from the 'Grey List' by FATF. Read more: http://lexn.me/cTlt50QHGBH Subscribe to our Newsletter: http://lexn.me/3xSC50QHGBK Stay informed with LexisNexis Middle East as we delve into the legal implications and regulatory updates. #UAE #FATF #RegulatoryCompliance #LexisNexisMiddleEast

📢 Update from FATF: In its June 2024 report, Monaco and Venezuela have been added to the list of jurisdictions under increased monitoring, highlighting intensified scrutiny on their financial systems. Conversely, Turkey and Jamaica have been removed from the list, indicating progress in addressing regulatory concerns. Financial professionals should stay updated on these developments to explore evolving compliance landscapes effectively. Learn more: https://lnkd.in/dHNyWGr7 For professional services and legal advice, please contact us: ☎️ +357 96334123 📧: [email protected] 💻: www.apapageorgiou.com #APLAwFirm #Legalservices #CorporateServices #RegulatoryAdvisory #LicensingServices #FATF #Monaco #Venezuela #Turkey #Jamaica #FinancialRegulation #Compliance

ENFORCEMENT OF COMPANY BENEFICIAL OWNERSHIP FILINGS AND SECURITIES REGISTERS BY CIPC The General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act 22 of 2022 (the “Act”) has made several changes to the beneficial ownership framework of companies and trusts. The intention of these changes is to aid in preventing fraud and corruption in South Africa. In May 2023, the Companies and Intellectual Property Commission (CIPC) implemented a beneficial ownership register and it became mandatory for all entities to disclose the ownership and securities register of the entity. Entities incorporated after May 2023 have to file their beneficial ownership information within 10 business days after the date of incorporation. The same timeline applies regarding the updating of beneficial ownership information where there have been changes in the entity. READ THE FULL ARTICLE HERE: https://lnkd.in/deh4K9zQ #CIPC #CompanyOwnership #beneficialownership

Compliance is my passion, as it brings clarity and peace of mind—no need to worry about the "what ifs" when everything is in order. With recent updates to reporting requirements for SARS, CIPC and the Masters' Office on business and trust ownership, navigating these changes may feel unclear. Getting it right the first time saves future hassles and potential risks. If you’re unsure how to align with these new requirements, reach out. Let’s ensure your compliance framework is strong and your house is in order. #siyakha

A Lioness of Africa publication of “Are you a Beneficial Owner or a Person who holds Beneficial Interest? Is your Company or CC Compliant?” an article written by Nicola Mullineux.   In response to South Africa’s greylisting by the Financial Action Task Force (“FATF”) for non-compliance with the international standards aimed at preventing money laundering and terrorist financing, the legislature elected to amend The Companies Act, 71 of 2008 (“Act”). The purpose of these amendments is to rectify the deficiencies identified by the FATF, with the ultimate aim of eradicating the greylisting imposed.   In case you missed it, read more about the article here: https://bit.ly/4e0iACc #HeroldGieAttorneys #HeroldGie #HeroldGieArticles #LawArticles #LionessOfAfrica #LawFirm #CapeTownLawFirm

ENFORCEMENT OF COMPANY BENEFICIAL OWNERSHIP FILINGS AND SECURITIES REGISTERS BY CIPC The General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act 22 of 2022 (the “Act”) has made several changes to the beneficial ownership framework of companies and trusts. The intention of these changes is to aid in preventing fraud and corruption in South Africa. In May 2023, the Companies and Intellectual Property Commission (CIPC) implemented a beneficial ownership register and it became mandatory for all entities to disclose the ownership and securities register of the entity. Entities incorporated after May 2023 have to file their beneficial ownership information within 10 business days after the date of incorporation. The same timeline applies regarding the updating of beneficial ownership information where there have been changes in the entity. READ THE FULL ARTICLE HERE: https://lnkd.in/dER7Hurg #CIPC #CompanyOwnership #beneficialownership

🔺 UAE exits FATF’s ‘grey list’ The #UAE has been removed from the #grey list of the global watchdog Financial Action Task Force (#FATF) after the country met all the required reforms to clamp down on illicit financial flows. An exit from the #grey list marks a swift turnaround for the #UAE, which was initially added to the list of jurisdictions under increased monitoring in 2022. The Ministry of Economy (#MOE) has taken proactive measures, intensifying supervision of the Designated Non-Financial Businesses and Professions (#DNFBP) sector through enhanced inspection tours. This effort ensures the highest #compliance with #AML legislation, contributing to the elevation of the UAE's global #financial standing and alignment with #transparency standards. MOE's imposition of #fines on #DNFBPs, coupled with extensive awareness support, aims to enhance #compliance, understanding of #money_laundering risks, and establishing a more stringent #regulatory environment. This #initiative fosters competitiveness in the national business landscape, solidifying the #UAE's position as an attractive #destination for #international #investments. Many #congratulations to the #UAE for achieving this significant progress! https://lnkd.in/diKQv-bj #Greylist #watchdog #amlcft #compliance #legislation #regulatorycompliance #AML #CTF #FollowTheMoney #moneylaundering #terroristfinancing

𝐌𝐅𝐒𝐀 𝐔𝐩𝐝𝐚𝐭𝐞𝐬 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐅𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤 𝐟𝐨𝐫 𝐒𝐢𝐧𝐠𝐥𝐞 𝐅𝐚𝐦𝐢𝐥𝐲 𝐎𝐟𝐟𝐢𝐜𝐞𝐬 📜 The Malta Financial Services Authority has introduced key amendments to its regulatory frameworks, paving the way for a more streamlined and compliant establishment of Single Family Offices in Malta. These updates aim to support high-net-worth families while addressing modern challenges such as money-laundering and terrorism financing risks. 👉 Discover what these changes mean for the financial services sector and how they create new opportunities for growth: https://lnkd.in/dftyDk64 #BDOMalta #MFSA #FamilyOffice

The Rules of Professional Conduct for Legal Practitioners 2023, effective since June 6, 2023, establishes ethical standards for members of the legal profession in Nigeria. Chapter Two of the new Rules addresses crucial issues, focusing on money laundering, terrorism financing, and proliferation financing within lawyer-client relationships and the provision of legal services. These provisions are a response to the growing risks in the financial sector and the potential misuse of independent legal practitioners for financial crimes, given their involvement with client money. Read More: https://lnkd.in/dpy9tigm #legalethics #professionalconduct #legalprofession #moneylaundering #terrorismfinancing #legalservices #ethicalstandards #financialsector #riskmanagement