Examples of Company Service Providers in a sentence
NOTE: Trust and Company Service Providers and any trustee that is considered to be a Financial Institution in its own right will have registration obligations under the US Agreement even if no Specified US Persons are identified in relation to the trusts that they manage or administer.
The FATF typology reports cover many pertinent topics for Relevant Persons, including corruption, new payment methods, money laundering using trusts and Company Service Providers, and vulnerabilities of free trade zones.
Also see the separate Supplemental Guidance for Trust and Company Service Providers.
Mailbox companies are most often managed by Trust or Company Service Providers (TCSPs), which can be representatives of the legal or accounting and audit profession (sometimes referred to as ‘gatekeepers’).
See, for example, Money Laundering Using Trust and Company Service Providers, Financial Action Task Force/OECD/Caribbean Financial Action Task Force, October 2010; Money Laundering and Terrorist Financing Vulnerabilities of Legal Professionals, FATF, June 2013; and Professional Money Laundering, FATF, July 2018.
Chapter 16ENQUIRIES More information relating to the licensing of trust or company service providers is available on the website of the CR’s Trust and Company Service Providers Licensing Regime at www.tcsp.cr.gov.hk.
Summary of TCSPs’ AML/CFT ObligationsTrust and Company Service Providers who engage in covered activities are required by the AML-CFT Law and the AML-CFT Decision to fulfil certain obligations which constitute the basis of an effective risk-based AML/CFT programme.
In order to gather evidence for this Impact Assessment, we have conducted a review of the literature of prescribed fees (including company-to-company fees and fees charged by public bodies to members of the public) and conducted two rounds of surveys that sought views and estimates from companies, Trust and Company Service Providers (TCSPs) and NGOs on the impacts of the proposals in this Impact Assessment.
For details regarding the imposition of pecuniary penalty, please refer to the Guideline on Imposition of Pecuniary Penalty which is available for download at the website of the CR’s Trust and Company Service Providers Licensing Regime (www.tcsp.cr.gov.hk).
It is open for public inspection free of charge on the website of the CR’s Trust and Company Service Providers Licensing Regime at www.tcsp.cr.gov.hk.