The Director of Financial Services, Mr. John Lawrence, has announced a programme of new legislation that he hopes will be enacted this year to ensure that the island's financial services legislative and regulatory regime is on the cutting edge of the industry in terms of innovation and internationally accepted standards of regulation.
Scheduled for consideration by the House of Assembly during the first half of this year once it resumes meeting following the March 3rd General Elections, will be the following pieces of legislation:
- a Proceeds of Criminal Conduct Bill and supporting Regulations (together with Guidance Notes for the private sector);
- an amendment to the International Business Company (IBC) Ordinance to permit the optional registration of charges;
