Regulatory Alerts2020-04-30
Added · Updated
Securities Industry (Corporate Governance) (Amendment) Rules, 2020
The Securities Commission of The Bahamas amends the Securities Industry (Corporate Governance) Rules, 2019, to impose stricter disclosure and governance obligations on companies. Prospective directors must disclose all other board memberships and compensated commitments prior to appointment, with immediate notification required upon termination of such roles. The rules also mandate that directors recuse themselves from voting on material contracts in which they have an interest and require annual reports to detail directors' interests, service contracts with controlling shareholders, and capital structure information.
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