In light of the action taken by the Securities Commission of The Bahamas and in accordance with the Memorandum & Articles of Association of the Bahamas Financial Services Board ("BFSB"), the membership of Dominion Investments (Nassau) Ltd. has been suspended
The Bahamas has an excellent record, dating back to 1987, for robust Anti-Money Laundering arrangements. The Bahamas first criminalized the proceeds of drug trafficking in 1987 with the enactment of the Tracing and Forfeiture of Proceeds of Drug Trafficking Act.
The second Nassau Conference will take place February 7 and 8, 2006 at the British Colonial Hilton in Nassau. The two-day event, which attracted nearly 150 delegates in its inaugural year, will cover a broad range of topics under the theme "Wealth Management in a Diverse World".
The Bahamas is the first premier Common Law jurisdiction to introduce Foundations. Wendy Warren, CEO & Executive Director of the Bahamas Financial Services Board, says that in launching its Guide to Foundations, The Bahamas as a Common Law country has looked beyond its boundaries and traditions to be of greater relevance for estate planning by persons from civil law countries.
As a result of the joint project undertaken with the Government of The Bahamas on an online Bahamas Strategy and Branding Survey, results are being tabulated for presentation to the Ministry of Financial Services and Investments and The Cabinet of The Bahamas.
The Bahamas has become the first premier Common Law jurisdiction to introduce Foundations, and this article represents the second in a series of reports on this new product in The Bahamas’ toolkit.
The EU Savings Directive ("EUSD") which subjects savings income in the form of interest payments made in one Member State to beneficial owners who are individuals resident for tax purposes in another Member State to effective taxation in accordance with the laws of the latter Member State was implemented on July 1, 2005.
The Bahamas ranked 2nd in the Latin Amercian/Caribbean region, and 39th globally, in the latest Country Credit Scorecard published by the Institutional Investor as a result of its country creditworthiness survey.
Pursuit of the highest possible professional standards in an environment which facilitates the efficient operation of financial services guides the regulatory and supervisory approach in The Bahamas.
The Bahamian economy has recovered well from the 2001-02 slowdown, achieving some acceleration of activity in 2004 even in the face of two hurricanes, according to the International Monetary Fund (IMF).
The Bahamas Government has established a committee with representatives from all of the country’s financial regulatory institutions to consider options for consolidating regulatory agencies into one or more bodies.
On Friday, the Securities Commission of The Bahamas (SCB), the regulatory agency responsible for authorising persons to operate in the investment funds and securities markets, issued Guidelines for the staledating of applications. According to a news release from the Public Relations Coordinator, the SCB had fomalised a Staledating Policy at the end of last month.
In Basel yesterday, the Bank for International Settlements (BIS) announced that The Joint Forum had released a report examining trends in outsourcing in the financial sector.
The Bureau for International Narcotics and Law Enforcement Affairs (INL) of the US Department of State has released its International Narcotics Control Strategy Report (INCSR) 2005.
Minister Maynard-Gibson addressed a "Special Programme for Intermediaries in Nassau" (SPIN) earlier this week. This first SPIN for the year 2005, targeting the private wealth management sector, was hosted by the Bahamas Financial Services Board (BFSB) in collaboration with the Association of International Banks & Trust Companies in the Bahamas (AIBT).