The Bahamas Investor

...anuary 2009 issue: • The cover story celebrates the efforts of the Bahamas Financial Services Board which has been working tirelessly for the past 10 years to promote the jurisdiction’s financial services sector. CEO Wendy Warren and chairman Craig “Tony” Gomez talk about the work that goes into maintaining The Bahamas financial centre’s prominence on the world stage. • Owner of Newport Shipyard in New England and self-proclaimed “boat nut,” Charl......

...bitration, has the unique potential to become a major hub, as we are known for financial services and in all contracts there are clauses that relate to the settlement of disputes,” she explains. “Arbitration compliments the commercial aspect of The Bahamas.” In May 2010, the government passed the Arbitration Act 2010, which gives the country a legal framework for international commercial arbitration. According to Cooper-Rousseau, now that the legi......

...s financial engineering. It’s very important we get a supportive framework for financial feasibility.” Although the survey shows that 80 per cent of countries polled believe they should develop renewable energy to help the Caribbean obtain security over the region’s energy supply, which could consist of anything from solar power to wind turbines, 67 per cent rate their country’s performance in developing renewable energy as “poor.” Charles Galante......

...r of the Bahamas Financial Services Board (BFSB) Aliya Allen, who said the financial services sector would soon launch a new investment fund product that would help it position itself as a leading hub for LatAm. By 2016, emerging markets will account for 37 per cent of global millionaire wealth, according to the McKinsey Global Private Banking Survey 2013 (Download attached PDF). In order to snag a share of this growth, Allen suggested that The Ba......

...d up for The Bahamas and are now moving forward in terms of a regional platform for synthesizing financial management processes within that industry,” he adds. Among the graduates is managing director of RBC-FINCO Tanya McCartney. “This MBA cohort realizes that there is an opportunity within all of the challenges that we as a people face for us to use leadership, entrepreneurial studies and decision-making skills that we now have to transform the......

.... The international conference is being hosted by The Bahamas Institute of Financial Services (BIFS) and has attracted more than 100 delegates from all around the world. “Trust and accountability are two words that resonate with financial regulators. They are a critical ingredient in maintaining a sound financial system and a robust economy,” said the governor. Craigg went on to say that regulators play a key role in sound corporate governance by......

...renowed financial hub, according to chief executive officer of the Bahamas Financial Services Board (BFSB) Aliya Allen , who says a greater emphasis on marketing would help the sector compete internationally. “The perception of The Bahamas is not as positive as the reputation on the ground,” she said referring to the Global Financial Centres Index (GFCI) produced by Z/Yen Group, which showed that, while The Bahamas ranked highly, the country’s rep......

...mpanies Act, 2000. The Memorandum and Articles of Association must provide for the PTC to act as trustee only for a trust or trusts created by a designated person names in the prescribed designating instrument pursuant to the regulations. Designated person: Is an individual named in the designating instrument. If more that one designated person is named, then each designated person must be a blood relative of or related by some other family relati......

...in a Bahamian trust may be protected from forced heirship claims or the enforcement of other foreign law rules, which are adverse to the free disposition of property. The Perpetuities (Amendment) Act, 2004 The Amendment Act of 2004 extended the perpetuity period from 80 to 150 years, enabling families to plan for five generations. The Perpetuities (Abolition) Amendment Act, 2011 This Act abolishes the rule against perpetuities for all trusts made......

...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,......

...s, saying: “Private equity is still a relatively unknown area [but] the performance is just tremendous.” The Global Financial Summit ran February 5-8 and speakers at the event included: Steve Moore, member of the Wall Street Journal editorial board; Peter Schiff, president of Euro Pacific Capital; and author and financial journalist James Grant. In addition to speaker presentations, the conference also offered breakout sessions in which attendees......

...end payments. Family Guardian’s three core business segments—home service, financial services and group division led by BahamaHealth—provide business diversification and competitive advantages in a generally limited and mature marketplace. A rating upgrade is unlikely in the near term. Downward rating actions could result if a material deterioration were to occur in Family Guardian’s operating results, worsening delinquency rates within the mortga......

...s strong as what you bring to the table.” Representatives from the Bahamas Financial Services Board , BACO, The Bahamas Institute of Financial Services , the Office of the Attorney-General, the Securities Commission , the Central Bank of The Bahamas and other industry groups are all involved in helping the government draw up a National Risk Assessment, added Thompson. Thompson, who also serves as inspector of the Compliance Commission, said the co......

...administration and fiduciary care?’ The event is organized by the Bahamas Financial Services Board (BFSB) and chief executive officer Aliya Allen says: “How do these things balance out? Indeed, as an industry sector, how do we get that balance right? Helen will bring her expertise to the table in addressing this critical topic in an evolving regulatory environment.” Widely recognized as the prime architect of the modern Jersey regulatory regime,......

...l and business professionals from Toronto and Calgary attended the Bahamas Financial Services Board’s (BFSB) “The Bahamas Landfall: Rediscovering The Bahamas” events held in Canada at the end of last month. “The twenty two individuals representing various Bahamian financial and business firms who participated in the Bahamas Landfall workshops had a unique opportunity for personal interaction with Canadian business colleagues,” says Wendy Warren, c......