Regulatory Alerts2008-05-16
Added · Updated
Guidelines for the On-Site Examination Process of the Securities Commission of The Bahamas
The Securities Commission of The Bahamas establishes a routine on-site examination rotation of three to five years for all licensees, with a standard thirty-day advance notification period for routine inspections. Licensees must respond to the final Routine Examination Report within thirty days, triggering an Initial Follow-up Transition Report and potential follow-up actions. For jointly regulated licensees, the Central Bank of The Bahamas leads the coordination through a Joint On-Site Examination Programme, issuing notifications at least six weeks in advance and managing the joint reporting process. Inspections for cause and special focus examinations may bypass standard notification periods when triggered by complaints, credible information, or supervisory concerns.