The Bahamas Securities Industry Reforms Near Completion

By: Christina Rolle, Executive Director, Securities Commission Of The Bahamas

A complete overhaul of legislation governing The Bahamas' investment funds industry is nearing completion, announced Christina Rolle, executive director of the Securities Commission of the Bahamas (SCB) at the annual briefing for the Bahamian securities and investment funds industries earlier this month.

The overhaul includes an updated Investment Funds Act (IFA) as well as some forthcoming changes to the overall securities industry legislative framework.

Investment funds overhaul

The Investment Funds Act 2003 was largely structured to be in line with the operations of fiduciary administrators and did not necessarily account for the appropriate regulation of the various roles within a fund structure.