Turnpage

Please visit our sponsors

RSS Feed
 

Current News & Press

 

Advertisement

The Bahamas Investor

News & Press Archives

 
The Bahamas Investor on facebookFollow The Bahamas Investor on TwitterSubscribe to RSS feeds from The Bahamas Investor
HOME > 
News & Press > 
SCB signs MOU’s with EU regulators

The Securities Commission of The Bahamas (SCB) has signed a Memoranda of Understanding (MOU) with counterpart securities regulators in the European Union (EU) and European Economic Area (EEA). 

Source:
Date:
Updated:
Bahamas Financial Services Board
Thursday, July 25, 2013
Thursday, July 25, 2013

EU22/07/13 – The Securities Commission of The Bahamas (SCB) has signed a Memoranda of Understanding (MOU) with counterpart securities regulators in the European Union (EU) and European Economic Area (EEA). The European Securities and Market Authority (ESMA) negotiated on behalf of EU and EEA members. These bi-lateral agreements will allow Bahamas-based fund managers to continue to market or perform fund management activities for alternative investment funds (AIFs) in EU and EEA markets, under the Alternative Investment Fund Managers Directive (AIFMD). The MOUs set standards for co-operation and cross-border supervision, making the supervision of alternative funds more consistent globally and strengthening investor protection.


SCB Executive Director Dave Shannon Smith said, “Entering these agreements marks another significant step taken by the Commission to be responsive to international developments in delivering on its mandate under the Securities Industry Act, 2011 to promote conditions that facilitate the orderly development of the capital markets.”

Mr. Smith further noted that not only do these agreements allow for Bahamas-based alternative fund managers to access the European markets represented by the regulators the SCB signed with, but they allow the Regulator to demonstrate to audiences locally and abroad its commitment to maintaining international best practices in regulation and the protection of investors globally. He continued, “it augurs well for the jurisdiction’s funds industry and the broader financial services industry as well.”

Read the MOU here. Source: Bahamas Financial Services Board.

Nassau's Doctors Hospital expects to welcome more international patients as its innovative new treatment for prostate cancer features on the Discovery Channel's Larry King Profile Series. The HIFU procedure featured on the Discovery Channel's In View with Larry King. Watch a clip from the episode here.

The Ministry of Financial Services hosted a presentation about upcoming changes to the current tax regime this week, with Financial Secretary John Rolle telling attendees that legislation to implement value added tax (VAT) will be introduced later this year.

The Bahamas Investor
Administrative Links
  


  © 2017 ETIENNE DUPUCH JR PUBLICATIONS LTD