Apostille: Effective 1st June 2002, the Hague convention No.12 abolishing the requirement of legalisation for foreign public documents is in force in Saint Lucia. Having acceded to this convention means that public documents issued from Saint Lucia do not require any further proof of authenticity in other convention member states provided they have been validated by attaching an Apostille certificate to the document. Any public document may be authenticated in the manner described by the Convention. Please click here to view the text of the Convention. For further information on the Status of the Hague Conventions please visit http://www.hcch.net/e/status

Legislation / Amendments: The International Business Act 1999 and the International Mutual Funds Act 1999, are in the process of been amended. Also the International Trust Act 1999 will be replaced by the International Trust Act 2002. Please visit the news section of our web site for more information.

Appointment of Money Laundering (Prevention) Authority: The Attorney General and Minister for Justice, Petrus Compton, by statutory instrument dated 15th July, 2002 appointed the Money Laundering (Prevention) Authority. The Authority is formed under the Money Laundering (Prevention) Act 1999.

The Authority has broad powers including powers of inspection, power to investigate transactions and the power to issue guidelines to financial institutions. The Authority is under a duty to create training requirements and facilitate training for financial institutions on the impact of obligations under the Act.

The appointment of the Authority is another pro active step being taken by the government of St. Lucia to ensure that its offshore centre develops with the highest regulatory standards.

Financial Intelligence Authority Act 2002: At a recently held sitting of Parliament, the Prime Minister and Minister for Finance, International Financial Services, Economic Affairs and Information, Dr. Kenny Anthony, tabled the Financial Intelligence Authority Act, 2002. This act is in keeping with St. Lucia's commitments to the highest international standards and meets the expectations of the FATF. While the international financial services sector is still in its infancy and enjoying a good reputation, the government is determined to stay ahead of the challenges that may develop.

Industry observers are confident that this new act completes St.Lucia's regulatory infrastructure for both the domestic and international financial sectors.

FATF update: On the 21st of June 2002 the FATF released its 13th annual report 2001-2002. The list of uncooperative countries (NCCTs) is now as follow: Cook Islands, Dominica, Egypt, Grenada, Guatemala, Indonesia, Marshall Islands, Myanmar, Nauru, Nigeria, Niue, Philippines, Russia, St. Vincent and the Grenadines, Ukraine. The FATF removed Hungary, Israel, Lebanon, and St. Kitts and Nevis from the list of NCCTs.

Events: St.Lucia will be a Chief Sponsor of the Asia Pacific Offshore Institute annual conference: Offshore 2002, The Premier Offshore Conference in Asia. The conference will be held from the 25th to the 27th of September 2002 in Macau. This year's event will focus on Strategies for the Offshore Industry in Greater China: Business Development under the Current Economic and Regulatory Framework. Participants can look forward to presentations from over twenty distinguished speakers around the world, including Anthony Bristol, representing Pinnacle St.Lucia.

Educational Opportunity: Bank Crozier International Ltd., the first International Bank opened in St.Lucia, is materializing its commitment to further the development of the Financial Services sector on the island. The company has offered a full scholarship to a St.Lucian national to pursue an MBA in Business and Finance at the University of Southern Europe, in Monaco, France. On completion, this individual will assume a two-year assignment at the company's headquarters in St.Lucia.

Financial Centre Corporation Says Farewell: The staff of the Financial Centre Corporation recently said goodbye to the Assistant Managing Director of the company, Angeline Gazio, who returned to France. Ms. Gazio commenced her tenure with the company from its inception and assumed various duties including the maintenance of the website, the preparation of advertising material and the preparation of the Pinnacle Newsletter, which she initiated. Ms. Gazio was multifaceted and multitalented and worked diligently over the years to make a profound contribution to the company's success. We wish her prosperity and success in all her future endeavors.

Fond d'Or Natural Historic Park: A breathtaking view, the lush vegetation of the East Coast, the cool breeze of the Atlantic Ocean. Fond d'Or offers a combination of symbols of the Amerindians, historical buildings of sugarcane plantations, a hiking trail through an estuarine forest and a wide sandy beach frequented by nesting Leatherback turtles. For further information please visit our island's attractions section.
Carnival: St. Lucia's Carnival is one of the most popular in the Caribbean, attracting regional and international visitors to the island to participate in the festivities. This year's celebrations held in July, culminated with two days of revelry in the streets of Castries. Locals and visitors to the island alike, were captivated by the upbeat and enchanting music, and were fascinated by the glitter, magnificence and splendour of the costumes on parade.
If you have any questions, comments or if you do not wish to be on our mailing list, please feel free to send them to enquiries@pinnaclestlucia.com

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