Reports

Industry Seminar: Evolving Legislative Landscape

Thursday February 16th, 2012

The Bahamas Financial Services Board (BFSB) today hosted an all-day seminar to address the raft of legislative amendments passed at the end of 2011 – all aimed at bolstering the competitiveness of the Bahamian financial services industry. The event was sponsored in conjunction with the Association of International Banks & Trust Companies (AIBT), Society of Trust & Estate Practitioners (STEP), and the Bahamas Institute of Chartered Accountants (BICA). See below and attached for details on the very comprehensive day of presentations and to download the various presentations delivered by industry experts.

The event was held at the British Colonial Hilton Hotel in downtown Nassau.

Part I: Leading Innovation in Private Wealth Management

The Amendments to the Trustee Act - Why change Was Necessary in Light of International Trends and Developments Presenter: David Brownbill, QC

Directed Trusts: Dividing Administrative Functions; How Both Settlors and Trustees Win Presenters: Arthur Seligman, Partner, Lennox Paton & Tanya Hanna, Partner, Graham, Thompson & Co.

Abolishing the Rule Against Perpetuities - The Next Step Toward True Dynastic Planning? Presenter: David Brownbill, QC

The Hostile Beneficiary - No Longer So Troublesome: How Recent Amendments Have Clarified In Terrorem provisions in Trusts and What This Means In Practice Presenter: Dr. Earl Cash, Partner, Higgs & Johnson

The Executive Entity: How It Could Change The Way We Structure Wealth Plans Presenters: Andrew Law, Chief Executive Officer, International Protector Group Limited & Timothy Colclough, Vice President & Head of Trust & Fiduciary Services, Butterfield Bank (Bahamas) Limited

Part II: A Modern Insolvency Framework

A Broad Overview of the Amendments to the Insolvency Regime Presenter: Senator The Hon. John Delaney, QC, Attorney General of The Bahamas

Shadow Directors, Insolvent Trading and Other Key Provisions Examined Presenter: Brian Moree, QC, Senior Partner, McKinney Bancroft & Hughes

Insolvency In Practice: Directors in the Twilight and Other Assorted "War Stories" from Years in Practice Presenter: Anthony Kikivarakis, Partner, Deloitte

Panel Discussion Panelists: Maria Ferere, President & Director, FT Consultants; Metta MacMillan-Hughes, Partner, Lennox Patton; Anthony Kikivarakis; Brian Moree, QC