Regulatory Alerts2010-11-01
Added · Updated
Guidance Notes for Assessing the Fitness and Propriety of Money Laundering Reporting Officers in The Bahamas
The Securities Commission of The Bahamas establishes core competencies and evidence requirements for assessing the fitness and propriety of Money Laundering Reporting Officers in prudentially regulated financial institutions. Candidates must demonstrate sufficient authority, relevant professional qualifications or extensive practical experience, and undergo annual training, while institutions must rectify any identified deficiencies within one year of the guidance's effective date. The submission process mandates specific documentation, including a curriculum vitae, certified diplomas, two independent character references known for at least five years, and a police certificate issued within the last six months.
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