The Financial Stability Board (FSB) Regional Consultative Group (RCG) for the Americas met in Nassau today at a meeting hosted by the Central Bank of The Bahamas. At their meeting, … Read More
Industry News
CIBC FirstCaribbean Wins Bahamas Bank of the Year
The Bahamas’ operations of [CIBC FirstCaribbean International Bank](http://www.cibcfcib.com) has captured the prestigious 2016 Bank of the Year Country Award in The Banker Magazine’s 17th Annual Bracken Awards Programme. This is … Read More
Amendment Acts to Strengthen Trust Regulatory Regime
Minister of Financial Services, the Hon. C.V. Hope Strachan, M.P., today tabled in the House of Assembly amendments to The Trustee Act (CH. 176) and The Trust (Choice of Governing … Read More
BISX Engages With Listed Issuers
The Bahamas International Securities Exchange (BISX) recently hosted a closed-session Conclave with its Listed Issuers. BISX says the intent was to meet with senior representatives of Listed Issuers to discuss … Read More
Global Tax Transparency Summit Backs Push for Greater Transparency
Twenty-six Parliamentarians have now signed a concordat calling on governments to support greater tax transparency by multinational companies. The signatories were in London for today’s [Global Tax Transparency Summit](http://www.parliament.uk/business/committees/committees-a-z/commons-select/public-accounts-committee/taxation/global-tax-summit-16-17/), hosted … Read More
Bahamas House of Assembly Passes Automatic Exchange of Financial Account Information Bill, 2016
Yesterday, the Honourable House of Assembly passed the Automatic Exchange of Financial Account Information Bill, 2016 with the unanimous support of all Parliamentarians. This Bill, which provides for the implementation … Read More
Measures to Combat Money Laundering and the Financing of Terrorism and Proliferation in Switzerland
The FATF has concluded an assessment of Switzerland’s anti-money laundering and counter-terrorist financing (AML/CFT) system, based on the 2012 FATF Recommendations. This assessment reviews both the level of effectiveness of … Read More
European Council Adopts Directive on Access to Beneficial Ownership Information
The Council today adopted a Directive granting access for tax authorities to information held by authorities responsible for the prevention of money laundering. According to a release from the EU, … Read More
BRICS Nations Pledge to Share Tax Information
BRICS nations today pledged to share tax information automatically and adopt global standards on tax transparency to check cross border tax evasion. The Heads of Revenue of the BRICS countries … Read More
BEPS Guidance on CbC Reporting
The [Inclusive Framework on BEPS](http://www.oecd.org/ctp/beps-about.htm) today released two new documents to support the global implementation of Country-by-Country (CbC) reporting (BEPS Action 13). These are: * Key details of jurisdictions’ domestic … Read More