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A CRS Compliance Program for Fiduciaries (Anguilla Edition)
USD 2,500.00
Anguilla mandates that Anguillan Financial Institutions (FIs) develop written policies and procedures for CRS due diligence and reporting obligations . Pursuant to the requirements in the Anguillan CRS legislation and other sources of applicable guidance, this document sets out a CRS Compliance Program for fiduciaries connected to Anguillan private wealth management structures. It is, however, readily adaptable to other jurisdictions and types of FIs.
Description
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This resource covers:
- Determination of the applicable jurisdiction and the rules governing the entity’s CRS status;
- Entity classification, registration and delegation;
- Identification, due diligence and monitoring of CRS Account Holders and Controlling Persons; and
- Preparation, registration and submission of CRS account reporting.
Caution
Failure of any BVI FIs to comply with this obligation is a criminal offence and is punishable by a fine of up to USD 100,000.
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