ARTICLE
1 November 2000

New Financial Services Legislation Keeps Abreast Of International Regulation

Anguilla Wealth Management
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The Government of Anguilla has recently enacted a range of robust legislation designed to attract additional new business to the island while further strengthening the regulation of the jurisdiction's financial services. The new legislation meets the needs of international regulatory standards by providing the framework required to accommodate the continued growth of Anguilla's financial services.

John Lawrence, Director, Government of Anguilla Financial Services Department, which regulates the jurisdiction's financial services said:

"The new legislation is part of the Government's determination to effectively match the growth of Anguilla's financial services with robust and progressive laws that meet international regulatory standards."

"Our innovative on-line company registration system, ACORN, further enhances regulation as it is overseen by my department."

"Anguilla's reputation for being a proactive and well-regulated jurisdiction will be reinforced by these new laws."

The new legislation programme includes:

New legislation:

  • The Proceeds of Criminal Conduct Act 2000
  • An Act to establish a Money Laundering Reporting Authority

New laws to replace existing legislation:

  • The Company Management Act 2000
  • The Trust Companies and Offshore Banking Act 2000

Amendments to existing legislation:

  • International Business Companies Act 2000
  • The Companies Act 2000
  • The Limited Liability Company Act 2000
  • The Limited Partnership Act 2000

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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