Regulatory Alerts2016-10-23 | 29777Added · Updated
Financial Intelligence Unit of Trinidad and Tobago (Enhanced Due Diligence Requirements) Order 2016
The Financial Intelligence Unit of Trinidad and Tobago issued the Enhanced Due Diligence Requirements Order 2016, which mandates that financial institutions and listed businesses conduct enhanced due diligence before engaging with high-risk entities, higher-risk countries, or persons based in such countries. This requirement applies to entities licensed under the Financial Institutions Act, Insurance Act, and Exchange Control Act, as well as various other registered organizations. The Central Bank of Trinidad and Tobago notified these regulated entities of the Order's enactment and gazettal in January 2017.