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Antigua forms International Financial Service Providers Association

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The jurisdiction of Antigua and Barbuda has announced the formation of the International Financial Service Providers Association of Antigua and Barbuda. 

The jurisdiction of Antigua and Barbuda has announced the formation of the International Financial Service Providers Association of Antigua and Barbuda. 

The association will work with the government to promote Antigua to the global investment community as a sound, competitive and well-regulated financial services jurisdiction comparable to any financial services jurisdiction in the world.

The newly formed association is comprised of top executives from international banks and trust companies, attorneys, accountants, investment managers and advisers. 

In its capacity, the association will monitor existing laws and procedures to ensure complete enforcement of regulation as well as adapt new policies and procedures in response to evolving issues impacting the world of international financial services.

Additionally, existing legislation will be monitored to ensure that competitiveness is maintained and to the extent that it is considered to be expedient, the association will propose recommendations for new legislation.
 
The international financial services sector is regulated by the Financial Services Regulatory Commission and supervised by the Office of National Drug and Money Laundering Control Policy. The Financial Services Regulatory Commission was established by a 2004 amendment to the International Business Corporations Act of 1982 as an independent regulator of international financial services in Antigua.

Antigua and Barbuda has recently enacted legislation under the Antigua International Trust Act, International Foundations Act and International Limited Liability Companies Act, and the Corporate Management and Trust Service Providers Act. This new legislation offers a stringent and structured environment for international asset protection and wealth preservation.
 
‘Antigua and Barbuda is committed to ensuring that the international financial services industry, including investors, is recognised for its commitment to high standards in financial services regulation,’ says Antigua’s Minister of Finance Harold Lovell (pictured). ‘Antigua and Barbuda was one of the first jurisdictions to enter into bilateral agreements concerning exchange of information contingent upon certain procedural requirements being met. Antigua and Barbuda will continue to comply with international best practices to ensure the maintenance of the integrity, soundness and transparency of its international financial services sector.’

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