The Bahamas Investment and Securities Business Association (BISBA) held its inaugural Continuing Professional Education Seminar October 1 under the topic “New Products and Regulations in the Bahamian Financial Services Industry.”

The association, formerly known as the Bahamas Association of Securities Dealers (BASD), has broadened its scope in order to promote the various sectors of the financial services industry inadequately covered among the existing associations, such as fund administrators and independent financial advisors.

Minister of Financial Services Ryan Pinder gave the opening address, outlining government plans to preserve The Bahamas’s standing as a well regulated, but innovative international financial centre.

The event was sponsored by the Ministry of Financial Services.

BISBA president Brian Jones of UBS (Bahamas) Ltd moderated a panel discussion that included Linda D’Aguilar, partner, Graham Thompson & Co, and Antoine Bastian, managing director of Genesis Fund Services.

The panelists discussed the development of the investment funds sector and introduced the Super Qualified Investment SMART Fund or SFM007.

Tim Colclough of Butterfield Bank & Trust Ltd gave a presentation on the executive entity, describing the characteristics, features and benefits of the recently developed wealth management product.

The seminar’s attendees were also given a regulatory update in relation to the new financial reporting requirements by Reece Chipman, principal of the Nastac Group.

BISBA plans to continue its educational outreach to industry participants and expects to significantly grow its membership base through its various seminars and events, it says.

Directors of BISBA’s board include: Brian Jones; Reece Chipman; Ivylyn Cassar, Equity Trust Bahamas Ltd; Bradley Crawley, Black Isle Management; Anthony Ferguson, CFAL; Antoine Bastian; and Andrew Rolle, Equity Trust Bahamas Ltd