Legal Environment

2019 05 02 FINMA

On 29 April 2019, in the presence of Minister of Finance and Economy Jean Castellini, Rupert Schaefer, Head of Strategic Services and member of the Executive Board of the Swiss Financial Market Supervisory Authority (FINMA), and Philippe Boisbouvier, Acting Director of Monaco’s Service d’Information et de Contrôle sur les Circuits Financiers (SICCFIN), signed a reciprocal memorandum of understanding designed to facilitate cooperation between the two authorities in their respective efforts to combat money laundering and terrorist financing.

2019 03 11 Magali Vercesi

Protecting investors while fostering the growth of Monaco’s financial centre is one of the foundations of the Commission for the Control of Financial Activities (CCAF). This principle was recently reinforced by a major move when the CCAF joined the International Organization of Securities Commissions (IOSCO).

2012 06 finance islamique

International tax cooperation is a mainstream topic after many States signed agreements relating to the automatic exchange of information.

2019 02 25 goalm siccfin

In keeping with the public–private partnership highly valued by SICCFIN, the Monegasque financial intelligence unit (FIU) organised an information meeting to prepare representatives from the country’s banking industry for the future roll-out of the goAML analysis tool. The meeting was held on 7 February 2019 in the auditorium of Monaco’s Vocational and Catering School.

2019 02 18 protection invest

Protecting clients is at the heart of the work of all banking and financial regulators.

2019 02 07 siccfin cameroun

SICCFIN, the Principality's Financial Intelligence Unit (FIU), represented by Philippe Boisbouvier, Karine Imbert and Jenny Perrot, took part in an inter-sessional meeting of the EGMONT Group, held in Jakarta, Indonesia, from 29 to 31 January 2019.

2019 02 11 trust

Law 1448, adopted on 28 June 2017 by the National Council complements the existing provisions and consolidates the entirety of Monegasque private international law into a single instrument.

2019 02 04 ico tva

ICOs are revolutionising traditional fundraising but they are still subject to legal and fiscal insecurity. As the token has no legal qualification, which is required for tax matters, especially for applying VAT, the challenge is to decide whether the tokens are equivalent to cash, securities or the supply of goods or services.

2019 01 28 smart contract

On paper, the idea of a SMART CONTRACT is one of the most innovative advances enabled by blockchain. In a regulatory context where many countries have relaxed their requirements for contractual formalities (particularly by implementing legislation on electronic signatures), blockchain has introduced the notion of a self-generating “smart” contract.

2019 01 03 Laurent Anselmi

AMAF (Association Monégasque des Activités Financières – Monegasque Association of Financial Activities) welcomed Mr Laurent Anselmi, Director of Judicial Services, for a lunch conference on financial crime on 6 November.

2018 12 19 confidentialite donnees

Just another crisis or one scandal too many for Facebook? Having already been accused of spreading fake news, the world’s biggest social network will struggle to escape from the media storm that has been battering it since mid-March without making any concessions. The revelations surrounding Cambridge Analytica’s siphoning off of its users’ data and the fact that it may have been used as part of Donald Trump’s online campaign have taken a heavy toll on the stock’s share price.