INTRODUCTION
The Mutual Funds Act, 1995 ("the Act") and Mutual Funds Regulations, 1995 ("the Regulations") seek to regulate the mutual fund industry in The Bahamas through oversight and supervision by a Securities Board and licensed Mutual Fund Administrators. Mutual Funds with a "connection" to The Bahamas and local mutual fund administrators are required to hold a licence in order to carry on business. The concept of "self regulation" has been adopted as the Securities Board (established under the Securities Board Act, 1995, and subsequently renamed the Securities Commission under the Securities Industries Act 1999) is comprised to a large degree of industry representatives and licensed administrators are empowered to grant licences to mutual funds.
