The Bahamas Investment and Securities Business Association (BISBA) today held its inaugural Continuing Professional Education Seminar, under the topic “*New Products and Regulations in the Bahamian Financial Services Industry”.*
The Association, formerly known as the Bahamas Association of Securities Dealers (BASD), has broadened its scope in order to promote the various sectors of the financial services industry inadequately covered among the existing associations; for example, fund administrators and independent financial advisors.
Sponsored by the Ministry of Financial Services, the half-day Seminar demonstrated another example of the private sector working in conjunction with the government with the objective of increasing new product knowledge across all industry sectors. Bringing brief opening remarks was the Minister of Financial Services, the Honorable L. Ryan Pinder, who outlined the efforts of the government thus far and its future plans to preserve The Bahamas’s standing as a well regulated but innovative international financial centre.
BISBA’s President, Brian Jones of UBS (Bahamas) Ltd., moderated a panel discussion that included Linda D’Aguilar, Partner, Graham Thompson and Co; and Antoine Bastian, Managing Director of Genesis Fund Services. These panellists participated in a dialogue on the development of the investment funds sector and introduced the Super Qualified Investment Fund or SFM007.
Tim Colclough of Butterfield Bank & Trust Ltd gave an interesting presentation entitled the *”The Executive Entity Explained”* which comprehensively described the characteristics, features and benefits of the recently developed wealth management product. The well attended seminar’s attendees were also given a regulatory update in relation to the “*New Financial Reporting Requirements”* by Mr. Reece Chipman, Principal of the Nastac Group.
BISBA plans to continue its educational outreach to industry participants and expects to significantly grow its membership base through its various seminars and events.
Directors of BISBA’s Board include: Brian Jones, UBS (Bahamas) Ltd.; Reece Chipman, the NASTAC Group; Ivylyn Cassar, Equity Trust Bahamas Limited; Bradley Crawley, Black Isle Management; Anthony Ferguson, CFAL; Antoine Bastian, Genesis Fund Services; and Andrew Rolle, Equity Trust Bahamas Limited.