Legal Environment

2021 10 11 GRECOGRECO (Council of Europe Group of States against Corruption) welcomes the "seriousness" and "strong political will" of Monaco in preventing corruption of parliamentarians, judges and prosecutors.

AMAF-Safe-CityOn Monday 19th July 2021, in the Grand Hall of the Ministry of State, Mr Patrice CELLARIO, Government Councillor-Minister of the Interior and Mr Etienne FRANZI, President of the Association Monégasque des Activités Financières (AMAF), formalised the creation of the Vigibanque Committee, reinforcing the already long-standing partnership between the 30 Monegasque banks and the Public Security.

signatureOn 23 July, Mr Michel HUNAULT, Director of the Service d'Information et de Contrôle sur les Circuits Financiers (SICCFIN), and his Luxembourg counterpart, Mr Claude MARX, Director of the Commission de Surveillance du Secteur Financier (CSSF), ratified a cooperation agreement in order to reinforce the effectiveness of the fight against money laundering and terrorist financing.

siccfin-amafOn Monday 5th July, under the chairmanship of the Government Councillor-Minister of the Department of Finance and the Economy, Mr Jean CASTELLINI, a protocol was signed at the Ministry of State with the aim of organising and modernising the control missions carried out by SICCFIN's inspection teams within financial institutions.
Mr Etienne FRANZI, Chairman of the AMAF, and Mr Michel HUNAULT, Director of SICCFIN, therefore ratified the protocol.

reunion-siccfinAt the initiative of Mr. Michel Hunault, Director of SICCFIN and head of the Monegasque delegation to the MONEYVAL committee, an update on the work of Monaco's National Risk Assessment (NRA2) was held on 15 April 2021 at the Grimaldi Forum. in the presence of Messrs. Jean Castellini, Minister of Finance and Economy, Stéphane Valeri, President of the National Council, and Robert Gelli, Secretary of Justice, among others.

ordioniHervé Ordioni, Managing Director of Banque Edmond de Rothschild in Monaco and Chairman of the "Promotion of the Monaco Financial Place" Commission of the Association Monégasque des Activités Financières (AMAF), takes stock of everything that the Principality of Monaco is actively doing to comply with European standards in the fight against money laundering and terrorist financing.

2020 12 09 lepaulmierMme Agnès LEPAULMIER is Secretary General of the CCIN (Commission de Contrôle des Informations Nominatives - the Monaco authority responsible for protecting personal data). We met with her because the CCIN has many work meetings with the AMAF, covering a wide range of issues.

2020 12 09 vercesiThe Commission for the Control of Financial Activities (CCAF) is responsible for overseeing the financial activities of the Monaco financial industry. Composed of at least seven members, chosen for their expertise and appointed by sovereign ordinance for five years, it also includes the Chairman of the Monaco Association for Financial Activities (AMAF) and the Chairman of the Monaco Order of Accountants (OECM). We met with the Secretary General of the Commission, Ms Magali VERCESI.

2020 11 SICCFINLast November, at the initiative of Mr. Michel HUNAULT, Director of SICCFIN (Service d'Information et de Contrôle sur les Circuits Financiers), a progress report on the National Risk Assessment (ENR) was organised, bringing together more than a hundred people. This extremely rare attendance during a pandemic* underlines the constructive links between SICCFIN and the representatives of the various professions, associations and foundations in Monaco and the strategic importance of this ENR.

2020 11 UcariAlain UCARI manages the Pictet Group’s banking arm, which was recently established in Monaco. He is also Secretary of the Monaco Association of Financial Activities (AMAF) and Chairman of the AMAF’s Anti-Money Laundering and Professional Certification Committees. We asked him some questions about his work.

2019 10 meeting michel hunaultOn October 2nd, Mr Hunault met the actors of the Monegasque Finance at a luncheon organized by AMAF (Monegasque Association of Financial Activities).