Local news, News

PM HARRIS HONOURS CONTRIBUTION AND MEMORY OF THE LATE GOVERNOR GENERAL, SIR CUTHBERT SEBASTIAN

http://sknis.kn/pm-harris-honours-contribution-and-memory-of-the-late-governor-general-sir-cuthbert-sebastian/ #

Published 10 April 2017

Sir Cuthbert lying in state

Basseterre, St. Kitts, April 10, 2017 (SKNIS): The Prime Minister of St. Kitts and Nevis, Dr. the Honourable Timothy Harris, honoured the contribution and memory of His Excellency Sir Cuthbert Montraville Sebastian, late Governor General, while his body laid in state at Government House today, Monday, April 10, 2017.

“In his long life, he, as it were, served the people in many areas of life and he did so exceptionally well, as a teacher, medical doctor, a man of the military, politician and then in the latter part of his life of public service [he] served best as the longest serving Governor General of St. Kitts and Nevis [1996-2013],” said Prime Minister Harris. “In that regard, he revolutionized the Office of the Governor General and improved upon the accessibility of Government House and the Governor General to the people of St. Kitts and Nevis. He set, clearly, a historic level of engagement for the Office of the Governor General.

Prime Minister Harris reflected on Sir Cuthbert’s unfailing presence at events, noting that there was never a time when he was missing, especially at sport and speech days, awards and presentations, the traditional and ceremonial activities on Independence Day, at the memorial service on Remembrance Day.

“Everywhere, Sir Cuthbert was present and ensured that the office provided patronage and presence at many functions. I believe this is one area in which he redefined the role of the Governor General, [as the office was] hitherto somewhat excluded from the people of St. Kitts and Nevis, excluded to the extent that it was available in a limited way [due to] long-established tradition,” said Dr. Harris. “Indeed, the record of one Governor’s memoir would show that in the early 20th century, this Government House was not accessible to more than about 250 persons for any event. By the time that Sir Cuthbert had taken over, our Independence celebrations, for example, would have hosted thousands of persons on the compound of Government House, and that was the nature of the man.”

Still reflecting on the contribution and memory of Sir Cuthbert Sebastian, Dr. Harris further stated that, “He was a man for all seasons, for all people in St. Kitts and Nevis.” Prime Minister Harris also noted that by the way in which he revolutionized the Office of the Governor General, he ensured that the people of St. Kitts and Nevis felt a sense of attachment to the office. Dr Harris added that His Excellency also understood that the office was there to serve persons and sever them well.

Prime Minister Harris added that his contribution to St. Kitts and Nevis and its history means a lot. He said his life of service is clearly one that the citizens and residents of St. Kitts and Nevis should emulate, as his life was one marked by industry, dedication and commitment.

His Excellency Sir Cuthbert Montraville Sebastian, will be laid to rest today, Monday, April 10, 2017, at the Springfield Cemetery, following a State Funeral with full Military Honours at the St. George’s Anglican Church in Basseterre, St. Kitts. Sir Cuthbert was 95 years of age at the time of his passing on March 25, 2017.

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Education, Local news, News

The Verchilds High School Scout Group just return from Nevis.

Published 10 April 2017

The Verchilds High School Scout Group just return from Nevis. The group held its Easter Camp at the Cotton Ground Community Centre with 42 boys in attendace. Troop Leader Petros Peets of form 3v1 said that the camp was great and the campers learnt a lot from the sessions. The boys took part in preparing meals, indoor and outdoor games, devotions. The highlight of the camp is a session which was conducted by Pastor Shorn Edwards, the Senior Office on the Prison Farm in Nevis. Pastor Shorn spoke to the campers about good behavior and the consequence of bad behavior. He also spoke to them about the workings of the Prison and why it is so important that none of the campers should get into prison. The campers enjoyed the Tour of the Four Seasons Hotel. The campers could not believe that the Four Seasons Hotel were that big and beautiful. Thanks to the staff who took so good care of us during the tour.

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International news, Local news, News

US State Department attack on Nevis ‘unfounded and misleading’

http://www.caribbeannewsnow.com/topstory-US-State-Department-attack-on-Nevis-%27unfounded-and-misleading%27-33997.html #

Published April 4, 2017

By Caribbean News Now contributor

CHARLESTOWN, Nevis — In a press statement on Friday, Heidi-Lynn Sutton, the financial services regulator in the Nevis Island Administration (NIA), refuted as “unfounded and misleading” claims made by the US State Department that “financial oversight in Nevis remains problematic due to the federation allowing the creation of anonymous accounts, strong bank secrecy laws, and overall lack of transparency of beneficial ownership of legal entities.”

heidi-lynn_sutton2.jpg
Heidi-Lynn Sutton

The recently published State Department’s 2017 International Narcotics Control Strategy Report (INCSR) further stated that “the ambiguous regulatory framework regarding customer due diligence makes Nevis a desirable location for criminals to conceal proceeds”.

According to Sutton, the INCSR “delivers an attack on Nevis with allegations that are unfounded and misleading,” pointing out that measures have been in place since 2009 to mitigate money laundering and terrorist financing risks/threats to the financial services industry in Nevis.

“Therefore, we are of the view that there are adequate measures in place to monitor compliance with AML/CFT legislation,” the statement said, noting in particular, “the claim that there are strong bank secrecy laws in place is baseless… [and] the claim that St Kitts and Nevis allows the creation of anonymous accounts is erroneous.”

The INCSR was sharply critical of Eastern Caribbean islands in general for failing to curb drug trafficking and money laundering.

According to the report, the Eastern Caribbean hosts abundant transshipment points for illicit narcotics, primarily from Venezuela destined for North American, European and domestic Caribbean markets. However, no evidence was provided or any sources given for these assertions, which are in fact contradicted by other US government data, including radar maps:

suspect_air_activity.jpg

Image above depicts a recent relocatable over the horizon radar (ROTHR) mapping of drugs flights. With the demise of the flights from Colombia to The Bahamas due to a very strict airspace control and more grip on the airstrips in Northern Colombia, this map illustrates the new approach of the drug cartels. The start of most drug flights has been relocated very clearly to Western Venezuela, close to the river Orinoco marking the border between both countries. Conspicuous by their absence from detected suspicious flights on this map are the islands of the Eastern Caribbean

The unsubstantiated allegations in the report drew an immediate response from the government of Antigua and Barbuda rejecting such claims in their entirety.

The NIA has now published the following similarly detailed rejection of the claims made in the INCSR:

Regulatory framework regarding customer due diligence

The Anti-Money Laundering Regulations, 2011 (AMLR), Anti-Terrorism (Prevention of Terrorist Financing) Regulations, 2011 (ATR) and the Financial Services Implementation of Industry Standards Regulations 2011 (FSIISR) with appending Guidance Notes require all regulated entities to identify, verify, obtain, maintain and monitor beneficial owners of legal persons. The legislation is enforced by both of the St. Kitts and Nevis Branches of the Financial Services Regulatory Commission (FSRC).

The FSRC is the ultimate regulatory body for financial services and for anti-money laundering and countering the financing of terrorism (AML/CFT) for St Kitts and Nevis. It was established by the Financial Services Regulatory Commission Act which was passed by the National Assembly on 20 October 2009. The FSRC monitors compliance by regulated persons and entities with the Proceeds of Crime Act, the Anti-Terrorism Act and such other Acts, regulations, codes or guidelines relating to money laundering or the financing of terrorism.

The above legislative and regulatory frameworks apply to all regulated persons and entities in Nevis which conduct fiduciary and financial services business in the following areas: the registration of international companies, the formation of trusts, the establishment of multiform foundations, international insurance companies, money services businesses, mutual funds, credit unions, international banks and the provision of citizenship by investment services.

It is impossible to claim that there is limited amount of information on the exact number of financial entities in the Federation as the Eastern Caribbean Central Bank and both Branches of the FSRC publish on their respective websites, the names, addresses and contact details of regulated entities under their supervision. Specifically in respect to Nevis, such information can be found on the Nevis Branch’s website.

As at December 31, 2016 the regulated entities supervised by Nevis Branch are as follows: insurance managers (18), money services businesses (3), international banks (1), registered agents (55), international insurance brokers (5) and international insurance companies (340).

The FSRC – Nevis Branch adopted a Risk-based Supervision (RBS) Framework in May 2015, which is applicable to both off-site and on-site examination of regulated entities. The IMF through CARTAC was instrumental in providing the necessary training and expertise to develop the RBS Framework for the FSRC – Nevis Branch. Through this partnership, CARTAC also provided technical assistance to assist the Branch in the conduct of an on-site examination of the sole licensed international bank in Nevis.

The RBS Framework includes the identification of and the assessment of risks, the quality of risk management oversight provided by compliance, internal audit, external audit, risk management, senior management and the board. A CARTAC consultant visited the Nevis Branch on 7 November 2016 to conduct a review of the RBS Framework implementation and the Branch was commended for the progress made in ensuring that important components of the framework were applied and the desired results were achieved. A summary of the framework can be accessed here.

Comprehensive on-site examinations of regulated entities in Nevis are conducted pursuant to section 4(2)(g) of the Financial Services Regulatory Commission Act, Cap 21.10 (FSRC Act) to ensure that the Act and enactments specified in Schedule 1 to the Act are being complied with and that the regulated entity is in a sound financial position and is managing its business in a prudent manner.

During an on-site examination, examiners from the FSRC – Nevis Branch will determine, among other things, whether there are appropriate policies and procedures established to ensure compliance with AML/CFT legislation and identify risk appropriately.

In order to achieve this, examiners will review all relevant customer files of the regulated entity as well as the citizenship by investment applications to ensure that adequate Know Your Customer (KYC) documents are obtained, maintained and up-to-date.

For the period January 2014 to December 2016, the FSRC – Nevis Branch conducted 53 full scope and follow-up on-site examinations in accordance with its RBS framework and on-site examination procedures. Compliance reports for all on-site examinations have been prepared by staff of the Branch, approved by the FSRC Board of Commissioners and disseminated to the board of directors and senior management of all assessed regulated entities. The entities are also advised of any corrective actions that should be implemented within stipulated timeframes.

Subject to section 40 of the FSRC Act and section 4(3) of the FSIISR, the Branch also undertook enforcement actions in 37 instances. Such actions included the issuing of warning letters, suspension or revocation notices and the granting of restricted licences. In 2017, the Nevis Branch intends to conduct 27 full scope and follow-up on-site examinations and it is on target to fulfil that mandate.

Statistics showing the number of on-site examinations that were conducted and enforcement actions undertaken by the FSRC – Nevis Branch are publicly available in the December editions of monthly Newsletters.

In 2017, the FSRC – Nevis Branch has also been successful in hosting its annual AML/CFT Awareness and Training Workshop for 12 consecutive years, a feat that no other jurisdiction in the OECS has achieved. This year saw the largest number of participants ever recorded with a total of 199 attendees from all regulated sectors. The continual increase in attendance is indicative of the importance that is placed on the fight against money laundering and terrorism financing. A press release was issued by the Branch.

Anonymous accounts

Section 69 of the Financial Services Implementation of Industry Standards Regulations 2011 specifically states that anonymously operated accounts are not allowed and that regulated businesses shall pay special attention to all complex, unusual large transactions or unusual patterns of transactions that have no apparent or visible economic or lawful purpose. They are required to examine the background and purpose of such transactions and to record their findings in writing and to keep such findings available. The claim that St Kitts and Nevis allows the creation of anonymous accounts is therefore erroneous.

Bank secrecy laws

Confidentiality provisions in both the Nevis International Banking Ordinance 2014 and the Banking Act 2015 are supported by the Confidential Relationships Act, Cap 21.02. This is the same level of protection given in all other jurisdictions that allow financial institutions to operate. However, confidential information from banks can be disclosed in connection with a request for information under an exchange of information agreement (TIEA or DTC) or in pursuance of a regulatory or criminal investigation. Therefore, the claim that there are strong bank secrecy laws in place is baseless.

The sole reference to the St Kitts and Nevis’ Third Round 2009 CFATF Mutual Evaluation Report without citing the subsequent follow-up reports is also disingenuous. In November 2014, the CFATF XL Plenary recognised that St. Kitts and Nevis had made significant progress in addressing the deficiencies in the 2009 Mutual Evaluation Report and therefore could exit the follow-up process. St Kitts and Nevis’ 9th Follow-Up Report contains a detailed description and analysis of the actions taken to rectify the deficiencies highlighted in the 2009 Report. Therefore, the public should be informed that in assessing St. Kitts and Nevis’ compliance with the FATF Recommendations, the 9th Follow-Up Report MUST be taken into account.

Furthermore, the Federation of St Kitts and Nevis’ Global Forum Phase 2 Peer Review Assessment was published in 2014 in which a rating of “Largely Compliant” was assigned. The rating is comparable with those achieved by countries such as Bermuda, Cayman Islands, Guernsey, United Kingdom and the United States. This demonstrates St. Kitts and Nevis’ high level of commitment and progress towards the implementation of the international standard of transparency and exchange of information. Copies of the CFATF Follow-Up Report and the Global Forum report can be accessed here.

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Local news, News, Politics

St Kitts-Nevis government would be re-elected if election held now, says pollster

http://www.caribbeannewsnow.com/topstory-St-Kitts-Nevis-government-would-be-re-elected-if-election-held-now%2C-says-pollster-34070.html #

Publish 10 April 2017

BASSETERRE, St Kitts — The latest Don Anderson poll shows that, if an election were to be held now, Prime Minister Dr Timothy Harris and his government of national unity would be re-elected to serve for another five-year term in St Kitts and Nevis.

What’s more, according to the poll, the current administration would expand its constituency count, adding to the seven seats that its candidates won at the February 16, 2015, general election.

The privately commissioned poll was conducted among 506 registered voters in all 11 of the constituencies in the Federation during March 2017.

Presenting findings of the poll on Saturday in St Kitts, Anderson said, “We were able to get information from a range of demographic persons; in other words, by gender, by age, by socioeconomic group and by constituency as well.”

The pollster from Jamaica, who established his firm Market Research Services Limited in 1975, also said, “From a constituency perspective, Team Unity is well positioned – if an election should be called now – to be re-elected, having improved their 2015 election constituency count based on the intention to vote measure.”

Speaking on Saturday, Anderson added: “Let me break that down a little bit more. Every time one does a poll during the course of a five-year span from one election to the next, we ask a question: ‘If an election were to be called now, who are you likely to vote for?’ and, generally, you find that the further away you are from an election date or a constitutionally due election date, the higher the number of people who say ‘I’m not sure or I don’t know.’”

Anderson continued: “In this particular situation, we found those numbers [persons saying they are not sure or that they do not know who they would vote for] a little lower than normal, which means that people are energized in the whole election process or political process.”

The pollster went on to say: “In the context of Caribbean polls, this is good!”

He explained: “Right now, we are almost at midterm. In another few months, we will be at midterm, and to be in a position of comfort, relative comfort, midterm is a little bit different. It’s not usual because in everywhere that we have worked – and we are talking about almost right through the Caribbean – midterm governments tend to be lagging behind.”

Anderson noted, “In this particular situation, we find Team Unity has actually done a good job in the eyes of the general public, to be so positioned that people say they would vote them in for a second term.”

Notably, Anderson correctly predicted the outcome of the last general election in St Kitts and Nevis based on polls that he conducted prior to the ballot.

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Local news, News

Former Prime Minister Rt. Hon Douglas laid wreath at the Spring Field Cemetery of the State Funeral for late Governor General His Excellency Dr. Sir Cuthbert Montraville Sebastian

Published 10 April 2017

Buckie Got It….Former Prime Minister Rt. Hon Douglas laid wreath at the Spring Field Cemetery of the State Funeral for late Governor General His Excellency Dr. Sir Cuthbert Montraville Sebastian

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