Regulatory Alerts2013-08-20 | cba-blob-8535Regulation Designating Stock Exchanges under the AML/CFT State Ordinance
The Minister of Finance, Communication, Public Utilities, and Energy of Aruba designates specific international stock exchanges to qualify for simplified client screening under the AML/CFT State Ordinance. The regulation explicitly lists markets operated by NYSE Euronext, Deutsche Börse, the London Stock Exchange, the Toronto Stock Exchange, and the Tokyo Stock Exchange. These designated venues enable financial service providers to apply reduced due diligence requirements when processing publicly traded entities subject to statutory financial reporting.
Unofficial and not binding translation 2011 No. 66 STATUTE PUBLICATION GAZETTE OF ARUBA MINISTERIAL REGULATION of October 24, 2011 for the implementation of Article 10, first paragraph, letter a, under 3, of the State Ordinance on the Prevention and Combating of Money Laundering and Terrorist Financing (AML/CFT State Ordinance') ('AB' [Statute Publication Gazette] 2011 No. 28) (Regulation designated stock exchanges AML/CFT State Ordinance). Issued October 24, 2011 The Minister of Justice and Education, A.L. Dowers
Page 2 Statute Publication Gazette of Aruba 2011 No. 66 The Minister of FINANCE, COMMUNICATION, PUBLIC UTILITIES, and ENERGY, Having considered: that, in the interest of the application by service providers of a simplified client screening as referred to in Article 10 of the State Ordinance on the Prevention and Combating of Money Laundering and Terrorist Financing (AB 2011 No. 28) with respect to publicly held corporations and similar entities, which are subject to statutory provisions on public financial reporting, and of which the shares issued by them are traded on the recognized stock exchanges to be designated by order of the Minister, it is desirable to adopt a list of such stock exchanges; Having regard to: Article 10, first paragraph, letter a, under 3, of the State Ordinance on the Prevention and Combating of Money Laundering and Terrorist Financing (AB 2011 No. 28); HAS DECIDED: Article 1
As recognized stock exchanges as referred to in Article 10, first paragraph, letter a, under 3, of the State Ordinance on the Prevention and Combating of Money Laundering and Terrorist Financing (AB 2011 No. 28) shall be designated the stock exchanges in: a. Amsterdam, New York, Lisbon, Brussels, and Paris, held by NYSE Euronext; b. Frankfurt, held by Deutsche Börse; c. London, held by London Stock Exchange; d. Toronto, held by Toronto Stock Exchange; e. Tokyo, held by Tokyo Stock Exchange. Article 2
- This Ministerial Order shall enter into force as of the date following the date of its publication in the Statute Publication Gazette of Aruba.
- It may be cited as Regulation designated stock exchanges AML/CFT State Ordinance.
M.E. de Meza