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Anguilla Compliance Association Limited Tackles Banking Regulations
A new non-profit association has been established in Anguilla to address compliance procedures in banking, aiming to promote robust programs for financial institutions. The Anguilla Compliance Association Limited (ACA) was incorporated under the Companies Act in 2016 and has since become a key player in enhancing and improving the compliance industry on the island.
Mission and Objectives
According to insiders, the ACA’s primary objective is to serve as an interface between the Anguilla financial services industry and regulators, as well as law enforcement agencies. By promoting good business practices, the association hopes to strengthen the regulatory framework governing banking operations in Anguilla.
Key Goals
- Promote compliance across various financial services conducted from or within Anguilla
- Enhance collaboration between the Anguilla financial services industry and regulators
- Strengthen the regulatory framework governing banking operations in Anguilla
Industry Experts Weigh In
Industry experts warn that the challenges facing Anguilla’s financial services sector are numerous and pressing. In order to successfully address these issues, stakeholders must work together, with the ACA playing a pivotal role in facilitating this collaboration.
Governing Council
The Association has already made significant strides in its mission to promote compliance across various financial services conducted from or within Anguilla. Through regular meetings and an annual general assembly for members, the Council is working tirelessly to achieve its objectives.
Leadership Structure
A key aspect of the ACA’s operations is its governing council, which comprises elected officials serving a two-year term. This leadership structure ensures that the association remains responsive to the evolving needs of the financial services industry in Anguilla.