Compliance Update

ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT (OECD)

The Republic of the Marshall Islands (RMI) received a rating of “largely compliant” on 12 November 2019 following its second round review against the 2016 Terms of Reference, which analyzed the implementation of the international standard of transparency and exchange of information on request.

FINANCIAL ACTION TASK FORCE (FATF)

The RMI was put on regular follow-up after its 2011 evaluation. For reference, regular follow-up is the highest rating achievable. The RMI is currently being evaluated against the new FATF standards, with its report to be adopted in 2024. Several countries have already been evaluated under the new standards, and a number of those jurisdictions were evaluated as having strategic deficiencies regarding antimoney laundering activities and in combatting the financing of terrorism.

EUROPEAN UNION (EU)

The RMI is currently whitelisted by the EU for enforcement of its economic substance regulations-

Quijano & Associates has been appointed as a Special Agent for corporate and maritime affairs of the Marshall Islands since December 2022.  Contact us at quijano@quijano.com shall you require further information about the benefits of this jurisdiction.