Regulatory Alerts2019-06-26
Supervision of Nominee Activities of Subsidiaries and Related Companies
The Central Bank of The Bahamas issues this guidance note to clarify and formalize licensing requirements for the nominee activities of subsidiaries and related companies operated by banks and trust licensees. Licensees must ensure these entities are properly licensed under relevant acts, file annual audited financial statements with the Central Bank, and include subsidiary operations in their corporate governance certifications. All affected licensees must fully comply with these consolidated supervision requirements by December 31, 2007.
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