The Bahamas Investor

...Financial Services Minister Ryan Pinder led the debate in the House of Assembly regarding the introduction of a set of bills to allow the development of new investment products.......

...s 12-14 May. The theme this year is ‘Exploring the Possibilities’ and additional speakers include Minister of Financial Services Ryan Pinder. cmorris@dupuch.com......

...issues of critical importance, but more importantly to strategize the way forward for the industry in terms of regulation and monitoring. I also commend the Director for inviting Ms. Bess Michael, Senior Policy Advisor for International Relations, Office of the Director, at their counterpart organisation, FIINCEN, in the United States. Ms. Michael has an impressive resume which outlines her vast experience in addressing legal, policy and operatio......

...h risk management firm Prime Advisory Group (PAG). “It will be a big issue for financial institutions in terms of organization.” Räber believes that financial intermediaries will be most affected by the upcoming legislation, which requires all foreign financial institutions (FFIs) to disclose information on US clients. The Act has broadened the scope of the previous Qualified Intermediary (QI) system to include bodies such as brokers, investment c......

...xchange. Family Guardian is the Investment Manager, and FG Financial has been appointed as the Administrator. Source: Bahamas Financial Services Board.......

...r the implementation of the Common Standard on Reporting and due diligence for financial account information in tax matters and for connected purposes was passed unanimously in both Houses of Parliament. The passage of this legislation evidences The Bahamas’ commitment to implement the OECD’s Common Reporting Standard (CRS) for the Automatic Exchange of Financial Information in 2018. The Bill sets out the requisite legal framework to begin the pro......

...on to go before government in the near future are set to keep The Bahamas’ financial services sector competitive in an increasingly sophisticated marketplace, according to Bahamas Financial Services Board (BFSB) chief executive officer Wendy Warren. In line with a multilateral memorandum of understanding with the International Organization of Securities Commissions (ISOCO), The Bahamas is looking to enact a Securities Industry Act, which Warren cl......

...es at the one-day conference, held at the Baha Mar Convention Centre. “The financial services sector is undergoing major change as the international regulatory environment continues to evolve.” Addressing the recent decision from the European Union to include The Bahamas in its list of “high risk” jurisdictions, the Minister said: “In a competitive commercial environment where geopolitics are constantly in play, it seems as though the playing fiel......

...Minister of State for Legal Affairs Damien Gomez has said the government is committed to bolstering The Bahamas’ financial services industry. The Minister made the comment during a speech to industry professionals at a Bahamas Institute of Financial Services event this week. Watch a ZNS news report here.......

...(AIBT) again joined forces with BFSB to enhance the profile of the annual Financial Services Industry Excellence Award for the Achiever of the Year. In addition to the recognition and awards presented in this category by BFSB, Achiever of the Year Alec Rolle received the AIBT Professional Education Prize. The prize for the Student of the Year award was a $5,000 investment account and again was co-sponsored by Societe Generale Private Banking, CFA......

...s in London, Rio de Janeiro and Milan. About Citi Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction servic......

...nd advice with what to do with that wealth. We can provide a wide range of services for this very dynamic region of the world.” With total wealth in the region set to continue to grow, heightened exposure to external shocks and increased investor sophistication will also lead to new investment behaviours beneficial to wealth managers. “The growing middle classes are forced to think beyond their immediate consumption needs and to re-evaluate notion......

...d. “As the captain, you have to be the first one in and the last one out.” For the former Swiss army officer, now president and managing director of Pictet Bank & Trust, the battle is fought in the world’s financial markets. From the looks of things, Lourdin and his troops are winning big in Latin America and the Caribbean. Under his direction, the 200-year-old Swiss bank took top rating in Euromoney magazine’s 2007 financial survey, ranking numbe......

...e greater controls and greater efficiency on public spending for goods and services for all public entities including public corporations. We have also bolstered our approach to the management of government debt. With technical assistance from the International Monetary Fund, we have established a Debt Management Committee comprising representatives of Finance, the Treasury and the Central Bank. Through this committee, a new debt management policy......

...ntributor to the gross domestic product of The Bahamas, behind tourism and financial services, which hold the first and second spots respectively. The ship registry is broad and deep, with gross tonnage of around 58millionfrom60countries and in all classes of vessels including tankers, bulk carriers, general cargo, passenger and cruise ships, ferries and even offshore support and oil rigs. The Maritime Authority deals with the global shipping, whi......