The Bahamas government has passed new regulations aimed at updating the framework for coporate and financial services providers in the jurisdiction. Financial and Corporate Service Providers Regulations and the Financial and Corporate Service Providers Act (FCSP) were approved by parliament in December and together form an internationally compliant framework, which is overseen by the Securities Commission of the Bahamas (SCB) as the regulatory authority. The legislation updates the two-decades-old legal framework of the prevailing Act in three important areas: It provides legal c...
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