Regulatory Alerts2026-08-12
Added · Updated
Notice Re: Issuance of Guidance Note on Self-Risk Assessments and Companion Tools
The Securities Commission of The Bahamas issues a Guidance Note detailing expectations for self-risk assessments (SRA) under the Financial Transactions Reporting Act, 2018, alongside two voluntary companion tools: an SRA Template and an SRA Risk Assessment Matrix. The Guidance Note requires licensees and registrants to conduct annual or trigger-event assessments covering customer, product, and geographic risks, with immediate effect, while explicitly excluding investment funds and registered investment fund managers from its scope. Firms must maintain current, board-approved SRAs for examination but are not required to file them with the Commission, and may use the voluntary tools or alternative formats provided the assessment meets minimum substantive requirements.
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