The new Securities Industry Act, 2011 (the "New Act")
was passed in the House of Assembly on 18 April 2011 and was
approved by the Senate. The date of assent for the New Act was 1
June 2011, and an appointed day should be specified within the
upcoming months. The Securities Industry Regulations, 2011 (the
"Regulations") have also been published and are expected
to be signed by the Minister simultaneously with the coming into
force of the New Act.
The New Act will allow The Bahamas to position itself to attract
more securities business by becoming a Signatory 'A' member
of the International Organization of Securities Commissions
("IOSCO"), the global body for securities regulators.
Among other innovative changes, the New Act modernizes the
regulation of the securities industry in a manner consistent with
international best practices, enhancing the powers of the
Securities Commission of The Bahamas (the "Securities
Commission"), and resolving the deficiencies in the
