Narrow Your Choices

Refine By Countries

Refine By Series

Refine By Language

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Business and Economics > Public Finance

You are looking at 1 - 10 of 10 items for :

  • Type: Journal Issue x
  • Isle of Man x
Clear All Modify Search
Cover IMF Staff Country Reports
United Kingdom: Observance by CREST of the CPSS-IOSCO Recommendations for Securities Settlement Systems Detailed Assessment of Observance
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; settlement bank; U.S. dollar; central bank; settlement system; business case; credit risk; Securities; Securities settlement systems; Central securities depositories; Legal support in revenue administration; Payment systems; Global; Europe
Cover IMF Staff Country Reports
Guernsey: Financial Sector Assessment Program Update-Detailed Assessment of Observance on Insurance Core Principles
International Monetary Fund
Guernsey’s status as the largest international insurance center in Europe hinges on its progressive infrastructure and operational flexibility. Guernsey updates its regulatory regime continually and has implemented all the recommendations arising from the 2003 Offshore Financial Center (OFC) assessment. The updated regulatory framework has a high level of observance with the Insurance Core Principles (ICPs). The Guernsey Financial Services Commission (GFSC) should expand its range of enforcement powers and also implement the public disclosure standards established by the International Association of Insurance Supervisors (IAIS). The mission advised the GFSC to continually assess the practical implementation of Own Solvency Capital Assessment (OSCA).
Keywords:
ISCR; CR; insurance manager; risk assessment; insurance intermediary; life insurer; due diligence; investment strategy; market practitioner; risk matrix; insurance risk; senior management; reviews insurers' annual; insurance industry; Insurance companies; Insurance; Solvency; Anti-money laundering and combating the financing of terrorism (AML/CFT); Legal support in revenue administration; Global
Cover IMF Staff Country Reports
Guernsey: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism
International Monetary Fund
This report provides a summary of the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures in place in Guernsey at the time of the mission or shortly thereafter. The assessors reviewed the institutional framework; the relevant AML/CFT laws, regulations, guidelines, and other requirements; and the regulatory and other systems in place to deter and punish money laundering (ML) and the financing of terrorism (FT) through financial institutions and Designated Non-Financial Businesses and Professions (DNFBP). The assessors also examined the capacity, implementation, and effectiveness of all these systems.
Keywords:
ISCR; CR; beneficial owner; criminal activity; drug trafficking; limited partnership; terrorist activity; criminal offense; due diligence; managing director; Anti-money laundering and combating the financing of terrorism (AML/CFT); Money laundering; Terrorism financing; Legal support in revenue administration; Europe; Africa
Cover IMF Staff Country Reports
Jersey: Financial Sector Assessment Program Update: Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision
International Monetary Fund
Jersey’s macroeconomic performance is generally satisfactory. Unemployment is low, and the trend growth rate and inflation have been satisfactorily examined. A Detailed Assessment of the Observance of the Basel Core Principles for Effective Banking Supervision Report on Jersey was also done. The legal system, which is broadly based on common law with French and Norman elements, is highly developed. The authorities have substantially adequate powers to direct, intervene in, and close a troubled financial institution.
Keywords:
ISCR; CR; JFSC staff; risk management; holding company; business model; The JFSC bank; Banking code; Market risk; Internal audit; Credit risk; Financial statements; Middle East; Global
Cover IMF Staff Country Reports
Jersey: Financial Sector Assessment Program Update: Detailed Assessment of Observance of AML/CFT
International Monetary Fund
Jersey has put in place a comprehensive and robust Antimoney Laundering/Combating the Financing of Terrorism (AML/CFT) legal framework with a high level of compliance with almost all aspects of the Financial Action Task Force recommendations. The paper discusses a Detailed Assessment of Observance of AML/CFT report on Jersey. Both money laundering and financing of terrorism are criminalized largely in line with the international standard, and Jersey has implemented the provisions effectively.
Keywords:
ISCR; CR; offence; word; one-off transaction; customer due diligence measure; legal adviser; customer's beneficial owners; compliance officer; drug trafficking; Anti-money laundering and combating the financing of terrorism (AML/CFT); Money laundering; Terrorism financing; Legal support in revenue administration; Terrorism; Europe
Cover IMF Staff Country Reports
Isle of Man: Financial Sector Assessment Program Update—Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision
International Monetary Fund
This paper presents a Detailed Assessment of the Isle of Man’s (IOM) Observance of the Basel Core Principles for the Effective Banking Supervision Report. The recent global financial markets turmoil has had a significant impact on the Manx financial system. The IOM has a deposit protection scheme, which has been amended shortly after the time of the assessment. The Financial Supervision Commission has adequate powers to ensure compliance with its regulations and other orders, and it uses these powers when the occasion demands.
Keywords:
ISCR; CR; risk management; parent bank; FSC dispose; guidance note; interest rate; risk profile; credit risk; banking system; bank auditor; FSC supervisor; country risk; Market risk; Legal support in revenue administration; Basel Core Principles; Operational risk; Global
Cover IMF Staff Country Reports
Isle of Man: Financial Sector Assessment Program Update: Detailed Assessment of Observance of AML/CFT
International Monetary Fund
The Isle of Man (IOM) is recognized for the expertise developed in a range of international financial products. The paper also presents a Detailed Assessment of Observance of Antimoney laundering/Combating Financing of Terrorism (AML/CFT) report on the IOM. The IOM authorities are placing increasing emphasis on international cooperation, including working closely with the relevant Organization for Economic Co-operation and Development initiative and entering into tax information exchange agreements.
Keywords:
ISCR; CR; IOM authority; beneficial owner; financial institutions; IOM law; risk assessment; statutory offense; drug trafficking; criminal activity; Anti-money laundering and combating the financing of terrorism (AML/CFT); Money laundering; Legal support in revenue administration; Terrorism financing; Drug trafficking; Europe
Cover IMF Staff Country Reports
Bermuda: Assessment of the Supervision and Regulation of the Financial Sector—Volume II—Detailed Assessment of Observance of Standards and Codes
International Monetary Fund
This paper presents key findings of the Detailed Assessment of the Observance of Standards and Codes in the Financial Sector of Bermuda. The small number of licensed deposit-taking institutions in Bermuda are part of the broader financial intermediation sector. Typically, some 50 percent to 60 percent of the banks’ income is fee based. The value of client assets and the volume of their activities are the main generators of this income. Efforts to reduce employee and occupancy costs that reflect the high cost of doing business on the island are continuing.
Keywords:
ISCR; CR; business plan; banking group; senior management; accounting firm; insider trading; parent company; financial condition; investment funds; credit union; Guidance note; Insurance; Insurance companies; Anti-money laundering and combating the financing of terrorism (AML/CFT); Post-clearance customs audit; Legal support in revenue administration; North America; Western Europe
Cover IMF Staff Country Reports
Jersey: Crown Dependency of the United Kingdom: Assessment of the Supervision and Regulation of the Financial Sector Volume II—Detailed Assessment of Observance of Standards and Cod
International Monetary Fund
This report reviews the assessment of Jersey’s compliance with the Basel core principles for effective banking supervision based on the Core Principles. It provides a detailed assessment of the antimoney laundering and combating the financing of terrorism regime of Jersey and reviews its laws and regulations, supervisory and regulatory systems, Jersey’s compliance with the International Association of Insurance Supervisors (IAIS) insurance core principles, and benchmarks the state of insurance supervision. It also analyzes the objectives and principles of securities regulation and provides a detailed assessment of trust and company service providers in Jersey.
Keywords:
ISCR; CR; insurance supervisor; trust company business; corporate governance; holding company; beneficial owner; business plan; credit risk; risk assessment; senior management; Codes of practice; Insurance; Insurance companies; Anti-money laundering and combating the financing of terrorism (AML/CFT); Legal support in revenue administration; Europe; Global
Cover IMF Staff Country Reports
Isle of Man: Crown Dependency of the United Kingdom: Assessment of the Supervision and Regulation of the Financial Sector Volume II—Detailed Assessment of Observance of Standards and Codes
International Monetary Fund
This assessment of the Basel Core Principles for Effective Banking Supervision has been completed as part of the IMF Offshore Financial Center (OFC) assessment program. First, the assessment benchmarks the current state of banking supervision, recognizing that there have been extensive changes in the last few years. Second, it suggests a number of further improvements or changes. Thus, this report provides a key input for the development of an action plan to move toward full compliance with the Core Principles.
Keywords:
ISCR; CR; beneficial owner; holding company; business plan; credit risk; FSC staff; senior management; license holder; Anti-money laundering and combating the financing of terrorism (AML/CFT); Insurance; Money laundering; Insurance companies; Legal support in revenue administration; Global; Europe