Regulatory Alerts2020-05-29
Added · Updated
Securities Industry (Anti Money Laundering and Countering the Financing of Terrorism) (Amendment) Rules, 2020
The Securities Commission of The Bahamas amends Rule 9 of the Securities Industry (Anti-Money Laundering and Countering the Financing of Terrorism) Rules, 2015, by replacing the requirement for a correct permanent address with a mandate to collect at least two current means of contact. This change permits entities to provide various contact details, including personal or business email addresses, mobile or landline numbers, and detailed mailing addresses. The amendment expands the acceptable forms of contact information to include residential and business mailing addresses with specific formatting requirements for street, city, and postal codes.
EXTRAORDINARY OFFICIAL GAZETTE THE BAHAMAS PUBLISHED BY AUTHORITY NASSAU 23rd NASSAU 11 August, 2011 th NASSAU October, 2019 26th May, 2020
SECURITIES INDUSTRY (ANTI-MONEY LAUNDERING AND COUNTERING THE FINANCING OF TERRORISM) (AMENDMENT) RULES, 2020 Arrangement of Rules Rule
- Citation..............................................................................................................2
- Amendment of rule 9 of S.I. No. 96 of 2015 ....................................................2
S.I. No. 80 of 2020 The Securities Commission of The Bahamas, in exercise of the powers conferred by section 149 of the Securities Industry Act, 2011 (No. 10 of 2011), makes the following Rules —
- Citation.
- Amendment of rule 9 of S.I. No. 96 of 2015. Page - 2 SECURITIES INDUSTRY ACT (NO. 10 OF 2011) SECURITIES INDUSTRY (ANTI-MONEY LAUNDERING AND COUNTERING THE FINANCING OF TERRORISM) (AMENDMENT) RULES, 2020 These Rules which amend the Securities Industry (Anti-Money Laundering and Countering the Financing of Terrorism) Rules, 20151, may be cited as the Securities (Anti-Money Laundering and Countering the Financing of Terrorism) (Amendment) Rules, 2020. Rule 9 of the Securities Industry (Anti-Money Laundering and Countering the Financing of Terrorism) Rules, 2015 is amended in subparagraph (1)(a) by the deletion of the words “(ii) correct permanent address;” and the substitution as follows — 1 S.I. No. 98 of 2015. “(ii) at least two current means of contact which may include – (aa) personal email address; (bb) business email address; (cc) personal mobile telephone number; (dd) personal landline number; (ee) business landline number; (ff) personal mailing address which must include where applicable, the street, post office box number, city, state or province, postal or zip code, landline telephone contact and country;
Page - 3 Made this 25th day of May, 2020 Signed Chairman Securities Commission of The Bahamas (gg) business mailing address which must include where applicable the street, post office box number, city, state or province, postal or zip code, landline telephone contact and country; (hh) residential mailing address which must include where applicable the street, post office box number, city, state or province, postal or zip code, landline telephone contact and country; or (ii) any other means of contact which the Commission may specify;”.