UK Treasury Praises Overseas Territories For Progress On Financial Regulation

PT       2002-05-27 
The UK Government has praised the progress made by the Caribbean Overseas Territories - the British Virgin Islands, the Cayman Islands, Anguilla, Montserrat and the Turks and Caicos Islands - and Bermuda in implementing the recommendations of a KPMG report on finance sector regulation.
The report was commissioned by the UK and the Overseas Territories in 1999, and was delivered in October 2000. The three main priority areas highlighted in the report were: the adoption of comprehensive anti-money laundering legislation, the establishment of independent regulatory authorities, and enhancement of transparency and information exchange procedures with overseas regulators.