Caribbean financial services jurisdiction Nevis is celebrating its 40th anniversary as financial services hub with a sold-out three-day AML/CFT/CPF conference.

The event, organised by Financial Services Regulatory Commission (FSRC) – Nevis Branch, which ran started from Monday June 24, 2024 to Wednesday June 26, 2024, saw. It has seen more than 150 stakeholders and delegates including an additional 100 via Zoom link, listen to a series of presentations and informative and interactive sessions, with a heightened focus on companies and jurisdictions working together to meet international regulatory requirements.

Among the speakers at the event are; Colin Dore, Permanent Secretary, Minstry of Finance Nevis Island Administration and Deputy Chairman, Financial Services Regulatory Commission (FSRC); Ian Carrington, regional adviser for Latin America and the Caribbean of the International Monetary Fund (IMF); Craig Timm, pictured above speaking, Association of Anti-Money Laundering Specialists (ACMS) and Alousia Faisal, Eastern Caribbean Securities Regulatory Commission.

The event was introduced by Heidi-Lynn Sutton, pictured above right, Regulator – Financial Services Regulatory Commission (FSRC) – Nevis Branch and has been moderated by financial crimes specialist Calvin Wilson, pictured above centre.

Money Map Media Co-Founder and International Adviser publisher, Gary Robinson, pictured left, who was also panelist at the conference, said: “The changes across the last 10 years to the accountability of international financial services companies and the jurisdictions in which they are based have been revolutionary and necessary. Staying abreast of international compliance has been challenging for many jurisdictions, especially the smaller ones that have to meet the same standards as the much larger ones.”

“It is heartening to see how Nevis, a jurisdiction that has had its ups and downs, is embracing change and encouraging its financial services companies to comply by producing educational events like this – the 16th annual FSRC – Nevis Branch AML/CFT/CPF conference.

“All jurisdictions have be serious about AML/CFT/CPF if they want to remain in international financial services. We are very happy to have been invited as an international financial services publication to attend this event as a panelist and congratulate Nevis on their 40th anniversary.”

Heidi-Lynn Sutton, Regulator, Financial Services (Regulation and Supervision) Department, Nevis Island Administration was the key organiser of the event.

"Our goal of raising public awareness about the CFATF Mutual Evaluation process and early preparedness was effectively achieved. The conference facilitated meaningful exchanges of insights and best practices, ensuring that all participants are better equipped to navigate the complexities of the upcoming evaluations. The collective efforts of our speakers, facilitators, and attendees have set a strong foundation for continued success in our compliance and regulatory endeavors.
"The conference successfully hosted 250 participants, demonstrating our ability to engage a broad audience. By leveraging new streaming services and digital platforms, we were able to reach representatives from regulatory agencies across the ECCU region, thereby enhancing the inclusivity and impact of our discussions.

Sutton added that the celebration of the jurisdiction's 40th anniversary milestone served as a "poignant reminder of our journey towards becoming a beacon of financial integrity and excellence".

"The conference theme, "Accountability in Action: Managing Evolving Compliance Risks and Threats - Part II" underscores our commitment to addressing the dynamic nature of financial crimes and compliance requirements, she said. "The strategic vision for this year's conference was meticulously aligned with the preparation for the CFATF 5th Round of Mutual Evaluations. Our primary focus was to equip participants with strategies and knowledge to ensure substantial effectiveness in achieving the FATF Immediate Outcomes. Recognizising the importance of both private and public sector collaboration, we curated sessions that would foster a culture of accountability and proactive risk management.
"In light of the fact that in-person attendees were primarily from the private sector, we made a strategic decision to extend invitations to government agencies from the Eastern Caribbean Currency Union (ECCU) to join via Zoom. This hybrid approach was designed to ensure that critical information on achieving substantial effectiveness for the FATF Immediate Outcomes was disseminated widely, thereby bridging the gap between public and private sector stakeholders."