Regulatory Alerts2026-01-01
Trust and Corporate Services Providers (Licensing and Operations) Regulations 2022
The Jamaica Financial Services Commission, with Ministerial approval, enacted regulations to govern the licensing and operational conduct of trust and corporate service providers. The rules mandate rigorous application requirements, including business plans and anti-money laundering manuals, while establishing strict corporate governance, beneficial ownership registers, and outsourcing protocols. Non-compliance with these operational standards, record-keeping duties, and audit obligations exposes licensees to significant financial penalties and potential imprisonment.
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