In today’s world, regulatory compliance is essential for any financial services company. The dynamic nature of risk management and regulatory compliance both globally and in The Bahamas makes it difficult to stay compliant.
Our Financial Services Law & Regulation Practice Group counsels domestic and foreign banks, trust companies, and securities firms operating in and/or out of The Bahamas on the laws and regulations governing the financial services sector. We have a wealth of experience in anti-money laundering and regulatory matters.
By utilising our extensive knowledge, we can provide our clients with timely and lucid guidance on how to stay compliant in a constantly evolving and intricate regulatory landscape.
In addition to guiding current licensees and registrants through potential regulatory concerns, we are able to support applicants for licenses or registration to operate under various financial services-related regimes. Additionally, we can help financial services companies meet the legal criteria for preventing money laundering and countering the funding of terrorists, such as:
- the development and assessment of anti-money laundering and compliance systems
- the conduct of mock regulatory inspections and anti-money-laundering health checks
- anti-money-laundering training
- consultation on KYC and due diligence best practices (e.g. the handling of non-compliant relationships)
- the provision of KYC information verification services (e.g. non-compliant/high risk clients)
- suspicious transactions reporting
- compliance with production and/or freeze orders issued by the Financial Intelligence Unit or the Courts of The Bahamas