The EU Savings Directive ("EUSD") which subjects savings income in the form of interest payments made in one Member State to beneficial owners who are individuals resident for tax purposes in another Member State to effective taxation in accordance with the laws of the latter Member State was implemented on July 1, 2005.

The Governor of the Central Bank describes The Bahamas as one of the more significant financial jurisdictions operating in the world of financial services in a number of areas, and says it is in a position to compete with some of the best in the world.

The Hon. Allyson Maynard-Gibson, Minister of Financial Services and Investments, presented remarks at the LOMA CARIBBEAN CONFERENCE being held June 27-29 at the Atlantis Resort, Paradise Island – under the theme: Expanding Your Horizons: Staying Ahead of the Competition.

Elizabeth E.M. Thompson, BA, LL.B, Barrister, MFP has replaced Mr. Sterling Quant as the new Registrar General, Inspector of Financial and Corporate Services Providers, and Registrar of Copyright.

The Bahamas has an excellent record, dating back to 1987, for robust Anti-Money Laundering arrangements. The Bahamas first criminalized the proceeds of drug trafficking in 1987 with the enactment of the Tracing and Forfeiture of Proceeds of Drug Trafficking Act.

On April 5th, 2018 The OECD released the second edition of the Common Reporting Standard Implementation Handbook.

The Securities Commission of The Bahamas (SCB) today issued a release concerning the publication of its Guidelines relating to the fast tracking of applications for the licensing of investment funds that <I>"target accredited or sophisticated investors."

The Bahamas International Film Festival will premier in Nassau from December 9-12, 2004 and will feature a diverse presentation of independent and studio films from around the world - as well as educational programmes and cultural events.

The Central Bank of the Bahamas has released an update on recent economic developments and prospects, noting that the Bahamian economy expanded during the first half of 2004 with the momentum expected to continue through 2005.

The Association of International Banks and Trust Companies of The Bahamas (AIBT) has announced Founding Sponsorship of The Nassau Conference, which takes place February 7 and 8, 2005.

The Bahamas Financial Services Board continues to be at the forefront of advocacy efforts and legal reviews, demonstrating an unwavering commitment to addressing the needs of our members.

In Basel yesterday, the Bank for International Settlements (BIS) announced that The Joint Forum had released a report examining trends in outsourcing in the financial sector.

In its Compliance North America feature this week, <I>Complinet</I> features the annual Anti-Money Laundering Seminar hosted last week by the Bahamas Association of Compliance Officers (BACO).

Addressing Parliamentarians during the current Debate on the Government's 2004-5 Budget, Minister Maynard-Gibson took the opportunity to report on key accomplishments, maintaining that her Ministry has demonstrated its relevance as the focal point for the promotion of financial services as well as for foreign direct investment.

We are pleased to issue another BFSB member newsletter.

The Securities Commission of the Bahamas (SCB) has issued a notice to its registrants and licensees concerning transitional provisions for investment funds and investment fund administrators existing prior to the promulgation of the new Investment Funds Act.