January 31, 2017By @BahamasFSBBFSB News, Education & Training, Industry News, International Issues, Tax Co-operation

The Bahamas Financial Services Board (BFSB) hosted its 14th International Business & Finance Summit (IBFS) 2017 which took place at Lighthouse Pointe, Grand Lucayan Resort, Grand Bahama from January 26-28th, 2017 under the theme “Financial Services: Responding to Change through Innovation”. The event attracted approximately one hundred and fifty practitioners (local and international) regulators, government … Read More

FSB publishes Policy Recommendations to Address Structural Vulnerabilities from Asset Management Act

January 12, 2017By @BahamasFSBInternational Issues

The Financial Stability Board (FSB) today published Policy Recommendations to Address Structural Vulnerabilities from Asset Management Activities. The document sets out 14 final policy recommendations to address the following structural vulnerabilities from asset management activities that could potentially present financial stability risks: 1. liquidity mismatch between fund investments and redemption terms and conditions for open- … Read More

IMF Executive Board Concludes 2016 Article IV Consultation Discussions with China

January 12, 2017By @BahamasFSBIndustry News, International Issues

Hong Kong SAR’s growth expected to have slowed to 1.5% in 2016, and pick up modestly to about 2% in 2017, driven mainly by private consumption. Main risks are less-than-expected growth in China, uncertainty stemming from the U.S. developments and global market volatility, as well as local property market. To counter renewed signs of overheating … Read More

Stronger signals of growth momentum picking-up in several major OECD economies

January 11, 2017By @BahamasFSBIndustry News, International Issues

Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, continue to point to growth momentum picking up in several advanced economies. The CLI for Germany anticipates growth gaining momentum. In the United States, Canada, and France the CLIs confirm the signs of growth gaining momentum flagged in last month’s … Read More

Automatic Exchange of Information (AEOI) Legislation

January 3, 2017By @BahamasFSBBFSB News, Industry News, International Issues, Tax Co-operation

Please be advised that The Automatic Exchange of Financial Account Information Act, 2016 (This Act came into force on the 1st day of January 2017) was assented to and has been published in the Official Gazette, The Bahamas on the 29th December, 2016. The Automatic Exchange of Financial Account Information Act, 2016, and Intended countries … Read More

European Reunion Project

December 31, 2016By @BahamasFSBIndustry News, International Issues

Malta’s Presidency of the Council of the European Union will herald the beginning of a European “reunion” project, Prime Minister Joseph Muscat said today in a New Year’s message to the nation. Dr Muscat said Malta has to “rise to the occasion” and ensure its presidency helps the EU overcome the serious challenges it faces. … Read More

OECD Provides AEOI Update – Over 1300 Bilateral Automatic Exchange Relationships in Place

December 22, 2016By @BahamasFSBIndustry News, International Issues, Tax Co-operation

The OECD today reports that a further 350 bilateral automatic exchange relationships have been established between over 50 jurisdictions committed to exchanging information automatically, pursuant to the OECD [Common Reporting Standard]( (CRS), starting in 2017. Two more rounds of activations are scheduled to take place in March and June 2017, which will allow the remaining … Read More