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ICON launched at BFSB events in Brazil

ICON, the latest innovation in fund structures created by The Bahamas, was launched at the Bahamas Financial Services Board's Bahamas Landfall: Destination Brazil events in Rio de Janeiro and Sao Paolo. 

Friday, August 29, 2014
Friday, August 29, 2014

Ryan Pinder addressing Brazil Landfall participants

Pictured: Ryan Pinder, Minister of Financial Services addressing Brazil Landfall participants. (Photo courtesy BFSB)

The Investment Condominium fund or ICON, which is the latest innovation in fund structures created by The Bahamas, was introduced to more than 200 Brazilian fund advisors at Bahamas Financial Services Board (BFSB) Bahamas Landfall: Destination Brazil events in Rio de Janeiro and Sao Paolo.

BFSB, the Ministry of Financial Services and 13 sponsor firms participated in the Landfall events, as well as a STEP Brazil event, which included an ICON presentation from a Brazilian practitioner’s perspective.

ICON is a fund that has been specifically designed to replicate the Brazilian condominium, the structure in which all of Brazil’s almost 13,000 funds are organized.clear

The Investment Condominium Bill was signed into law by Parliament on Monday.

“The events were an unqualified success and we were pleased to have Ryan Pinder, Minister of Financial Services, with us,” said Aliya Allen, BFSB’s chief executive officer and executive director.

The Minister addressed the event participants under the theme: In the age of information exchange, where is The Bahamas positioned.

Other presenters at Landfall events included:

  • Humberto Sanches, Ulhôa Canto, Rezende e Guerra Advogados, and William Heusler, Itaú Unibanco, who covered the background and purpose of ICON;
  • Michelle Neville-Clarke from Lennox Paton who provided an overview of the Bahamian investment  funds regime;
  • Christel Sands-Feaste, Higgs & Johnson, who reviewed ICON features and comparisons;
  • Pamela Klonaris and Samantha Knowles-Pratt, Delaney Partners, who covered ICON Establishment and Registration;
  • Linda Beidler-D’Aguilar, Graham Thompson, who reviewed the conversion of an existing entity into an Investment Condominium; and
  • Antoine Bastian, Genesis Fund Services, and Ivan Hooper, Winterbotham Trust Company, who discussed the ICON’s administration and governance requirements.
  • Wendy Warren, representing Ansbacher Trust Bahamas, who presented on the advantages of domiciling your business in The Bahamas;
  • Edgar Fernandez, RBC Wealth Management; David Munoz, Deltec Bank & Trust and Patrick Feuz, Julius Baer Bank & Trust who spoke to “Advantage Bahamas”, with a focus on wealth management and residency.

Along with BFSB and the Bahamas Ministry of Financial Services, sponsoring firms for the Landfall events included Ansbacher Bahamas; Delaney Partners; Deltec Bank &Trust; Equity Bank and Trust; Graham Thompson; Genesis Fund Services; Higgs & Johnson; Julius Baer; Lennox Paton; PricewaterhouseCoopers; RBC Wealth Management and The Winterbotham Trust Co Ltd.

Dupuch Publications acted as a media sponsor.

BFSB Bahamas Landfall: Brazil

Pictured: (from left) Brian Jones (UBS Bahamas Ltd.), Wendy Warren (Caystone Solutions Ltd.), Ivan Hooper (The Winterbotham Trust Company Limited), Patricia Avallone (Scotia Private Client Group, Miami), Mechelle Martinborough (Securities Commission of the Bahamas), Michelle Neville-Clarke (Lennox Paton), Edgar Fernandez (RBC Wealth Management), Aliya Allen (Bahamas Financial Services Board), Brandace Duncanson (Ministry of Financial Services), David Munoz (Deltec Bank & Trust Limited), Linda Beidler-D’Aguilar (Graham Thompson), Sharon Stuart-LaFleur (Julius Baer Bank & Trust (Bahamas) Ltd.), Jeremy Proffitt (RBC Wealth Management), Patrick Feuz (Julius Baer Bank & Trust (Bahamas) Ltd.), Janelle Sands (Bahamas Financial Services Board), Antoine Bastian (Genesis Fund Services Limited). (Photo courtesy BFSB)

Delegates not pictured: Minister L. Ryan Pinder (Ministry of Financial Services), Pamela Klonaris (Delaney Partners), Samantha Knowles-Pratt (Delaney Partners), and Anthony Ferguson (Ansbacher Bahamas Ltd).

Bradley Bosfield of the Ministry of Tourism's group meetings and incentives department says that customer service and cultural experiences are high on the list for companies organizing corporate meetings or conferences. Watch an interview with Bosfield here.

Prime Minister Perry Christie has said that four companies have expressed an interest in entering the telecommunications and cell phone market in The Bahamas during the liberalization process. Watch a ZNS Network news report here.

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