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 > 
Securities Commission launches anti-fraud training

The Securities Commission of The Bahamas facilitated special training for more than 100 employees of financial services regulators and various government agencies with the assistance of the US Securities and Exchange Commission (SEC) last week. 

Source:
Date:
Updated:
TheBahamasInvestor.com
Wednesday, August 19, 2015
Wednesday, August 19, 2015

The Securities Commission of The Bahamas facilitated special training for more than 100 employees of financial services regulators and various government agencies with the assistance of the US Securities and Exchange Commission (SEC) last week.

The commission, which is celebrating its 20th anniversary this year, held the Capital Markets Development and Oversight Training Programme August 11-14 at the British Colonial Hilton.


In her remarks at the opening of the programme, commission chairman Tonya Bastian Galanis said: “The training was the first of its kind to be organized and hosted by the commission and was geared toward increasing the technical capacity of the commission’s staff and to ultimately improve its oversight function and support the orderly development of the Bahamian capital markets.”

Bastian Galanis observed that the training programme, “signaled to the international community the commission’s commitment to mutual assistance in detecting and deterring cross-border financial crime”.

She added that one of the objectives of the session was to underscore the significance of this commitment and provide an understanding of the Commission’s obligations under the International Organization of Securities Commissions’ information sharing framework.

The commission’s executive director Christina Rolle, told participants the regulatory oversight training would enhance the commission’s capacity to fulfill its role as the regulator of the investment funds, securities and capital markets, which is an essential for economic development.

“All of us in this room have a shared interest in protecting the value of our investments and seeing a growing, diversified economy that produces jobs and improves the standard of living,” Rolle told participants.

“The proper functioning of our organizations is integral to promoting the ideal environment for the capital formation necessary to sustain industry and economic growth. When the capital markets are stable and well-regulated and when, as a result, investors trust the integrity of the markets, investments can flow freely in the economy with goals of facilitating capital investment and contributing to the gross domestic product of the country.”

Ensuring that other financial services regulators and government agencies could access the experience and knowledge of the US SEC presenters while they were in The Bahamas was one of the goals of the programme.

A special session was held for the Commission’s constituents in the investment funds, securities and capital markets and financial and corporate services providers. The session focused on anti-money laundering and building an effective compliance programme.

The Bahamas Branch of the Chartered Institute of Arbitrators has seen a steady increase in its base of qualified and trained professionals who can work in arbitration and alternative dispute resolution both locally and internationally, according to the organization.

Steps are in motion in The Bahamas to appoint provisional liquidators to oversee the wind up of the Baha Mar resort group of companies. Watch a ZNS Network news report here.

The Bahamas Investor
Administrative Links
  


  © 2017 ETIENNE DUPUCH JR PUBLICATIONS LTD