PHILIPSBURG–Parliament passed the National Ordinance containing rules to prevent and combat money-laundering and terrorism-financing on Tuesday afternoon in response to the recommendations of the international monitoring agency Financial Action Task Force.
The adoption of the law comes after lengthy debate in the Central Committee of Parliament and in the plenary sitting. Only MPs Christophe Emmanuel (National Alliance) and Dr. Luc Mercelina (United Democrats) did not vote for the law. Absent for the sitting were MPs William Marlin (National Alliance) and Tamara Leonard (United Democrats).
United St. Maarten Party MPs Frans Richardson and Rolando Brison withdrew their amendments to the legislation after Justice Minister Cornelius de Weever presented adjustments addressing their concerns as well as those of other MPs.
A major point of concern for MPs was the definition of a politically exposed person (PEP) and the time span in which one could be considered to still be politically exposed. This was addressed by the minister and the changes he presented to Parliament.
Source: The Daily Herald https://www.thedailyherald.sx/islands/87513-mps-pass-law-on-money-laundering