Regulatory Alerts2019-06-26
Guidelines for Managed Licensees
The Central Bank of The Bahamas requires restricted banks and trust companies operating without a full physical presence to qualify as Managed Licensees by meeting specific management, governance, and reporting criteria. These entities must engage approved third-party Managing Agents, appoint resident senior officers and compliance roles, and maintain official records in The Bahamas that are fully accessible, operationally separate, and compliant with anti-money laundering standards. The framework further mandates comprehensive Management Agreements, periodic regulatory reporting, external audits, and dedicated physical facilities to ensure continuous supervisory oversight.
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