Regulatory Alerts2023-02-07
Added · Updated
Guidelines on Record Keeping of Service Providers
The Financial Services Commission of Jamaica issued these guidelines to enforce record-keeping obligations for licensed trust and corporate service providers under the Trust and Corporate Services Providers Act, 2017. The document mandates that licensees maintain accurate, current, and locally stored records for at least seven years, including detailed client identification, financial statements, and trust administration documents. Compliance requires robust internal controls, regular audits, disaster recovery plans, and the ability to produce specific trust-related information upon regulatory request.
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