Supreme Court Ruling on Perpetuity

June 20, 2013By @BahamasFSBIndustry News, Legal, Members in the News

Chief Justice Sir Michael Barnett in a recent ruling granted a Bahamas-based trustee an Order declaring that the Rule Against Perpetuities (Abolition) Act 2011 (RAPAA) applied to the disposition of a trust created before December 30, 2011. Law firm [Higgs & Johnson]( represented the trustee in the application – and points out that [Legal precedence]( … Read More

International Bar Association and OECD to extend collaboration

October 10, 2012By @BahamasFSBInternational Issues, Legal

The [International Bar Association]( (IBA) has announced that it has committed to extend collaboration with the [Organisation for Economic Co-operation and Development ]( on improving legal frameworks, expertise, and development across a number of sectors. Sectors highlighted include employment, energy, environment and natural resources, financial services, migration, trade and investment, and the rule of law … Read More

Legislative Developments – February 2012

February 16, 2012By @BahamasFSBBFSB News, Industry News, Legal, Private Wealth Management

The Bahamas Financial Services Board (BFSB) today hosted an all-day [seminar]( to address recent legislative developments. CEO Aliya Allen said the legislation passed will enhance the competitiveness of the nation’s financial services industry. Joining BFSB as cosponsors of the Seminar were the Association of International Banks & Trust Companies (AIBT), the Society of Trust & … Read More

Financial Industry Seminar To Discuss The Evolving Legislative Landscape

February 10, 2012By @BahamasFSBBFSB News, Industry News, Legal

In 2011, amidst turbulent and uncertain times for economies around the world, The Bahamas implemented a raft of legislative amendments aimed at bolstering the competitiveness of the financial services industry. On February 16th 2012, at the British Colonial Hilton, The Bahamas Financial Services Board (BFSB) in conjunction with the Association of International Banks & Trust … Read More

Eugene Dupuch Law School wins CCJ International Law Moot

March 31, 2011By @BahamasFSBIndustry News, Legal

For the second consecutive year, the [Eugene Dupuch Law School]( was declared the overall winners of the Caribbean Court of Justice (CCJ) International Law Moot. Representing team EDLS at the 3rd annual CCJ International Law Moot held in Trinidad and Tobago, March 23, 2011, were Roderick Dawson Malone (Lead Counsel), Anishka Pennerman (Junior Counsel) and … Read More

Legislative and Regulatory Developments

December 17, 2010By @BahamasFSBIndustry News, Legal, Newsletter

The legislative agenda during the course of the year covered several pieces of industry and business-relevant legislation. Some 2010 Highlights: The BFSB Arbitration Committee worked closely with the Office of the Attorney General and the Bahamas Maritime Authority to develop a comprehensive and modern Arbitration Act 2009 and Arbitration (Foreign Arbitration Awards) Act 2009. Both … Read More

Conducting Insurance Business in The Bahamas

October 28, 2010By @BahamasFSBInsurance, Legal

The Government of The Bahamas has taken steps to bolster its financial services sector through the enhancement of legislation pertinent to international products that are in high demand. This is evidenced by the introduction of the External Insurance Act, 2009 (“EIA, 2009”), which came into force on August 19, 2009 followed by its accompanying regulations. … Read More

International Standards of Transparency and Tax Information Exchange

July 5, 2010By @BahamasFSBIndustry News, International Issues, Legal, Tax Co-operation

The Bahamas has enacted the [International Tax Cooperation Act, 2010 ]( (Act) which came into force on July 1, 2010. The Act provides the framework legislation that enables The Bahamas to give effect to any treaty or international agreement as specified in the Schedule that provides for exchange of information in tax matters. Effectively, the … Read More