Supervision

The Securities Commission of The Bahamas (“the Commission”) is responsible for the administration of the Securities Industry Act, 2011 and the Investment Funds Act, 2019, pursuant to which it supervises and regulates the activities of investment funds, securities and the capital markets. As the regulator of the capital markets, the Commission regulates, monitors and supervises the issuance of digital assets and persons conducting digital asset business in / from within The Bahamas, pursuant to the Digital Assets and Registered Exchanges Act, 2020.

The Commission is also responsible for administering the Financial and Corporate Service Providers Act, 2020, which provides for the regulation and oversight of non-bank financial and corporate service providers.

Securities Industry Act

  • Firms dealing in securities
  • Firms managing securities
  • Firms advising on securities
  • Firms arranging deals in securities
  • Marketplaces
  • Clearing facilities
  • Registrar and transfer agents
  • Chief executive officers of registered firms
  • Compliance officers of registered firms
  • Trading representatives of registered firms
  • Discretionary management representatives of registered firms
  • Advising representatives of registered firms
  • Directors of registered firms
  • Money laundering reporting officers
  • Related parties (inclusive of, but not limited to, security holders, officers, auditors and attorneys)

Investment Funds Act

  • Investment funds
    • Professional fund
    • Standard fund
    • SMART fund
    • Self-Administered fund
  • Investment fund managers
  • Alternative investment fund managers (AIFMs)
  • Investment fund administrators
    • Directors and general partners of a fund
    • Custodians
    • CEO of an investment fund administrator
    • Compliance Officer of and investment fund administrator

Financial Corporate Service Providers Act

Financial service provider or non-bank financial service provider

Persons engaged in any of the following activities:

  • money lending;
  • money broking;
  • payday and cash advances;
  • credit extension;
  • bill paying services;
  • debt collection;
  • financial leasing;
  • financial advisory or consultancy services;
  • financial intermediation services;
  • trading in commodities and other financial instruments;
  • custody of digital assets; or
  • wallet services provider.

Corporate service provider

Persons who, by way of business:

  • forms, registers, or manages an international business company;
  • acts, or arranges for another person to act, as a director, secretary, or officer of an international business company, or as a partner in an Exempted Limited Partnership;
  • acts, or arranges for another person to act, as a director, secretary, officer, or shareholder of a Bahamian incorporated or registered entity;
  • provides registered agent or registered office services for
    • - a Bahamian incorporated or registered entity;
    • - an international business company;
    • - or an exempted limited partnership.
  • provides Compliance Officers or Money Laundering Reporting Officers as outsourced compliance services; or
  • is appointed as –
    • an agent of an executive entity;
    • an agent of a foundation;
    • a trustee of an authorized purpose trust;
    • the registered representative of a private trust company;
    • the governing administrator of an investment condominium;
    • the representative of a segregated accounts company