Regulatory Alerts2019-06-26
Notice on Nominee Activities and Related Companies
The Central Bank of The Bahamas issued a revised Guidance Note clarifying annual filing requirements for nominee trust licensees. Licensees consolidating financial statements with their parent and not accounting for separate income are exempt from filing standalone reports, while others must submit either a Directors’ and Auditors’ Certificate or full audited financial statements. The policy takes effect immediately, requiring affected entities to submit the appropriate documentation by July 29, 2011, for operations ending December 31, 2010.
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