Regulatory Alerts2012-03-27
Added · Updated
Securities Industry (Physical Presence) Rules, 2012
The Securities Commission mandates that registered firms maintain minimum physical presence requirements in The Bahamas, including governance, premises, and record-keeping standards, unless exempted. Firms may appoint a Commission-approved managing representative to satisfy these requirements, provided the representative meets specific qualification criteria and executes a service level agreement. The rules establish approval processes, notification obligations for changes in representation, and enforcement sanctions for non-compliance, with full effect from December 30, 2012.
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