Regulatory Reorganisation Being Examined

The Bahamas Government has established a committee with representatives from all of the country’s financial regulatory institutions to consider options for consolidating regulatory agencies into one or more bodies.

The regulatory institutions on the committee include the Central Bank of The Bahamas, the Office of the Registrar of Insurance Companies, the Securities Commission of The Bahamas, Compliance Commission and the Inspector of Financial and Corporate Service Providers.

The heads of each of the regulatory institutions will serve on the committee, under the chairmanship of Senator the Hon. James Smith, Minister of State for Finance, Ministry of Finance.

Former Minister of Finance Sir William Allen and BFSB CEO and Executive Director Wendy Warren have also agreed to be involved in the work of the committee.