Search results for : Regulatory Institutions
Central Bank shares Consumer Affairs concerns over "discriminatory" point of sale practices
February 16, 2024
Central Bank shares Consumer Affairs concerns over "discriminatory" point of sale practices
NASSAU, BAHAMAS — Central Bank Governor John Rolle yesterday underscored the regulator's alignment with the Ministry of Consumer Affairs' concerns regarding what he termed 'discriminatory' point of sale practices in exchange rates, signaling potential regulatory action. Governor Rolle, while speaking yesterday at the Global Interdependence Center Conference hosted by the Government and Publi...
Central Bank releases digital asset regulations
December 13, 2023
Central Bank releases digital asset regulations
NASSAU, BAHAMAS — The Central Bank has released its Digital Asset Guidelines for 2023, outlining the regulatory expectations for supervised financial institutions (SFC) regarding exposure to digital assets activities. The guidelines also aim to identify and establish best practices for effective risk management, with the regulator assuring that there were no conflicts with the DARE [.....
US authorities seize millions of dollars from Deltec Bank in money laundering and fraud probe
July 19, 2023
US authorities seize millions of dollars from Deltec Bank in money laundering and fraud probe
NASSAU, BAHAMAS- US authorities recently seized funds million of dollars held by Lyford-Cay based Deltec Bank as part of an investigation into international money laundering, wire fraud, and bank fraud. Deltec Bank in a statement posted to its website said that it has been "proactively cooperating with the related investigation of the US Attorney's Office [...]
May 18, 2023
Bahamian Banks and Trust companies excel in compliance study
NASSAU, BAHAMAS- A Central Bank commissioned anti-money laundering (AML) report has revealed that Bahamian banks and trust companies have a strong compliance culture, with only 14 percent of unsolicited approaches from dubious new clients generating a response from local firms. The Central Bank yesterday released an AML compliance report prepared by Evaluasi, a specialist firm kno...
October 28, 2020
Amidst Covid-19, local company launches online training in Anti-Money Laundering
Local risk and compliance company Accord Services announces the launch of AccordReady©, The Bahamas’ first digital training solution designed to help financial professionals manage the threat of financial crimes, including anti-money laundering, terrorist financing, and fraud...
Consolidation coming for regulatory bodies
December 30, 2010
Consolidation coming for regulatory bodies
Government’s plans to amalgamate the three regulatory bodies of the financial services industry are on track, with significant progress anticipated next year.
The move aims to bring the Securities Commission, the Insurance Commission and the Bank Supervision Department of The Central Bank of The Bahamas together, to improve efficiencies and offer better service to those institutions who fall...
2015: A watershed year for the PLP government, pt. 2
January 18, 2015
2015: A watershed year for the PLP government, pt. 2
Every life has a watershed moment, an instant when you realize you're about to make a choice that will define everything else you ever do, and that if you choose wrong, there may not be that many things left to choose. Sometimes the wrong choice is the only one that lets you face the end with dignity, grace, and the awareness that you're doing the right thing.
I'm not sure we can recognize those m...
BOB to sue The Punch
February 21, 2014
BOB to sue The Punch
Bank of The Bahamas (BOB) Managing Director Paul McWeeney has engaged local and UK-based attorneys to sue The Punch newspaper and its owner Ivan Johnson after he said the daily published an "outlandish" and "defamatory" story regarding a defaulted loan...
February 04, 2019
"Intellectual Capital Generated by CANTO, is Robust" says Newly Elected Chair of CANTO
Intellectual capital generated by CANTO, is robust” declared newly elected Chairman of CANTO, David Cox in his acceptance speech at CANTO’s 35th AGM. Mr. Cox who is the Head of Regulatory Affairs at Cable & Wireless...
January 15, 2019
CIBC FirstCaribean's Kerry Jordan Named to BAFT's Future Leaders Program Class of 2019
BAFT, an international financial services association, recently announced its Future Leaders program class of 2019 and for the first time an employee of a regional bank has landed a place in the prestigious programme...
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