Financial Action Task Force Public Consultation

November 14, 2015

The Financial Action Task Force [FATF] has initiated an international public consultation on proposed revisions to the Interpretive Note to Recommendation 8, which applies to Non-Profit Organisations.

The Interpretive Note gives guidance on what is required to comply with Recommendation 8. The public consultation is intended to assist FATF in updating and clarifying the Interpretive Note.

A spokesperson said, “We encourage Bermuda’s charities to participate to make their views known, but please note that participation is entirely voluntary.

“Although the documentation from FATF asks for responses to be sent directly to them, we are requesting that Bermuda respondents send their submissions to either the Registry General at atlightbourne@gov.bm or to the Centre on Philanthropy.

“We intend to make a single submission on behalf of Bermuda, and therefore request that submissions be made by 5:00PM on 25th November 2015, so that the responses can be consolidated in time for FATF’s deadline of 27th November 2015.

“Please send all comments or suggestions using the template and in electronic form, either scanned or as a Word document. Please direct any queries in relation to the public consultation to atlightbourne@gov.bm.”

The full template follows below [PDF here]:

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