The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) of the United States have signed a memorandum of understanding, formalising a commitment to convergence of US … Read More
Author: @BahamasFSB
Anti-Terrorist Financing Task Force Releases Check List
*Operation Green Quest* is an inter-agency Anti-Terrorist Financing Task Force, established last year by the US Treasury Department. Its purpose is to augment existing counter-terrorist efforts by targeting financial networks … Read More
U.S. Expands Network of Tax Information Exchange Relationships
**New Agreement to Exchange Tax Information** On Monday, the US and Jersey signed a new agreement allowing for the exchange of information on taxes. The agreement was signed by Treasury … Read More
Disaster Recovery Planning
**”Innovative Technology for a Global Marketplace”** Open Systems Technologies International will host a “Business Recovery Planning Concepts” Seminar on November 19, 2002. The programme will address the following topics relating … Read More
Harmonisation of Regulatory Practices
Regulators within the financial services industry have signed a Memorandum of Understanding (MOU), intended to assist with the harmonisation of standards and practices. This will include licensing, registration and on-site … Read More
Ecommerce – Reforming & Modernising Economies
**The FTAA Context** Mr. Michael Halkitis, Parliamentary Secretary in the Ministry of Finance, addressed delegates participating in last week’s International Labour Conference on the Free Trade Area of the Americas … Read More
Wire Transfer Regulations – FATF Recommendation #7 To Be Tightened
**Anti-Terrorism Initiative** Last year, the Financial Action Task Force introduced 8 Special Recommendations which, when combined with its Forty Recommendations on money laundering, set out the basic framework to detect, … Read More
IRS Information Sharing Regulation Draws Opposition
Congressman Pete Sessions (TX) is the latest representative to express concern about proposals to require U.S. banks to report the deposit interest they pay to nonresident alien account holders. Rep. … Read More
Bahamas – And Region – Committed To Fight Against Money Laundering
The Hon. Alfred Sears Attorney General & Minister of Education Presenting the Keynote Address at Monday’s *”Dealing With The Problems Of Money Laundering and Terrorist Funding”* Conference here in Nassau … Read More
No US Support For EU Savings Tax Cartel
**EU Savings Directive** The Washington, DC-based Centre for Freedom and Prosperity reported today that the Bush Administration has reiterated its opposition to the EU Savings Directive, an initiative it described … Read More