The Phase 2 review rates Grenada as overall largely compliant with the international standard. Whilst there are legal obligations for entities to maintain ownership, accounting and banking information, the report notes that compliance with these obligations was not monitored by the Grenadian authorities in all cases during the period under review as some oversight programs were not in place or were just recently implemented and could not be tested. Grenada has made some legal amendments to bridge the gaps pointed out in its Phase 1 report. The report recommends that Grenada monitor its new laws to ensure that it exchanges all types of information in line with the international standard. Grenada should report steps taken to address the recommendations made in the Phase 2 report within twelve months. For further information on Grenada’s exchange of information practices and to read the full report click here.