Regulatory Alerts2023-12-29
Added · Updated
Securities Industry Bill, 2024
The Securities Industry Bill, 2024 establishes a comprehensive regulatory framework for securities, investment funds, digital assets, and capital markets in The Bahamas. It empowers the Securities Commission to impose administrative penalties, freeze assets, and issue directives for systemic risk management without prior hearings, while introducing specific provisions for derivatives trading and the classification of digital assets as securities. The legislation mandates the separation of chairman and CEO roles for public issuers, updates governance and prospectus requirements, and grants the Commission authority to amend operational forms and initiate the winding up of non-compliant registrants.
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