Representatives of the Financial Services Commission (FSC) are currently participating in an inter-regional seminar on beneficial ownership in St. Kitts.
According to a press release from the organisation, Montserrat is represented at the Eastern Caribbean Central Bank and International Monetary Fund Seminar focused on enhancing Beneficial Ownership Transparency Frameworks by FSC Commissioner, Fabian Singh, and Deputy Commissioner, Donilia Cuffy. The seminar began on October 21 and runs until the 25th.
The release noted that the seminar “emphasizes the transparency of beneficial ownership information, specifically the natural persons who own and control companies and other corporate vehicles, which is crucial in combating the misuse of legal entities. Presented by the Financial Integrity Group of the IMF Legal Department, the course is designed to build the capacities of officials responsible for implementing international standards on Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT). It will feature presentations and sessions discussing how companies and legal entities have been misused to facilitate money laundering, terrorism financing, and other crimes, including regional case studies.”
The seminar is said to be “highly relevant to Montserrat, especially considering the recent passage of the Companies Act 2023, Companies Regulations 2024, and Persons with Significant Control Regulations 2024. These measures are part of Montserrat’s commitment to significantly increase corporate transparency and prevent companies from being used as vehicles for money laundering, terrorist financing, and proliferation financing. The jurisdiction also launched its Publicly Accessible Register of Beneficial Ownership (PARBO) https://cipo.fsc.ms, on October 11, 2024, further enhancing these efforts.”
“All companies currently on the register must be re-registered under the Companies Act 2023 using the online platform by the deadline of March 7, 2025.
The FSC says it is “dedicated to leveraging insights from this seminar to strengthen Montserrat’s regulatory frameworks and ensure a secure and transparent business environment.”
Online Portal for Companies & PARBO: https://cipo.fsc.ms
FSC Montserrat : https://www.fscmontserrat.org/
Social media: Facebook: @fscmontserrat | Instagram: @fscmontserrat
