Licensing Requirements and Compliance Policy

page_header_1

Licensing Requirements

The Financial Services Regulatory Commission (the “FSRC”) has regulatory and supervisory authority to monitor and regulate the activities of companies providing corporate management and trust services. The main responsibility of the FSRC is to ensure that the entities which it licence and regulates are, and remain, compliant with the Corporate Management and Trust Service Providers Act, 2008, (the “CMTSP Act”) and all legislative requirements governing Anti-Money Laundering and Counter Terrorist Financing (“AML/CFT”)in Antigua and Barbuda.

Further, licensees must ensure that the services to be provided are conducted in a structured manner and should ensure that they meet and demonstrate the fit and proper test. Therefore, in considering an application for a licence, the FSRC conducts such investigation as it may deem necessary to ascertain the:

  • validity of the documents submitted in accordance with the application and the personal questionnaire;
  •  financial condition and history of the Applicant;
  •  nature of the business of the Applicant;
  •  experience of the persons who are to constitute its management;
  •  source of the initial capital;
  •  the applicant’s ownership and business structure; and
  •  the defined objectives and the proposed operations of the business which must be consistent with the principles enshrined in the legislation and in the FSRC’s authorization and relevant supervision requirements and standards.

A licence is granted only to corporations or professionals that meet the fit and proper criteria of the CMTSP Act.

Additionally, licensees are required to demonstrate to the FSRC that their systems, controls and resources are adequate and appropriate for the regulated activities they will be conducting.

NMSL_Certificate

 

Compliance Policy

NMSL is a licensed corporate management service provider pursuant to the Corporate Management and Trust Service Providers Act (CMTSP), and is fully compliant with all legislative requirements governing AML/CFT in Antigua and Barbuda. Therefore, the policy of NMSL is to always meet the clients as well as statutory and regulatory authority requirements and expectations by remaining compliant with the CMTSP Act and all other legislation governing the jurisdiction of Antigua and Barbuda. This policy shall be the means through which the Company’s Vision, Mission, Policies and Quality Objectives will be achieved.