Sat, Jul 21, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

The Bahamas edges closer to new investment funds regulation

Tuesday, June 19, 2018

Bailey McCann, Opalesque New York:

By the end of this year, investment rules in the Bahamas could look a lot different. Delegates at the recent Opalesque Bahamas Roundtable noted that the government is looking at updates to the Commonwealth's Investment Funds Act.

Policymakers in the Bahamas started a review of the Investment Funds Act in 2016 with the goal of updating regulations to reflect the current state of private funds. Investment firms are likely to see clearer rules and more oversight throughout the fund structure from CEO to portfolio manager. If successful, the Commonwealth will be aligned with global investment regulation trends and will also be able to open the jurisdiction to a wider range of funds and strategies.

Ryan Pinder, Partner at Graham Thompson and former Minister of Financial Services and Trade said that there have already been several rounds of public comment from the investment industry and that policymakers have updated the draft legislation accordingly. If the current timeline remains in place, updates to the law could be passed in the third or fourth quarter of this year.

"Historically The Bahamas Investment Fund Regime has been very private wealth focused," Pinder explained. "We had extra fiduciary obligations on the fund administrator but didn't have a framework for fund managers or fund marketers. We are now reforming that and separating responsibilities."

The proposed legislation would remove fiduciary responsibilit......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Northern Trust combines private equity and hedge fund admin units[more]

    From GlobalCustodian: Northern Trust has merged its private equity and hedge fund administration businesses to create a new North America Alternative Fund Services unit. The new division will provide fund administration, accounting and data solutions to its global hedge funds, private equity manager

  2. 7 ETFs that act like a hedge fund[more]

    From US News: To say 2018 has been volatile for investors borders on understatement. The first quarter saw the CBOE Volatility Index spike. Stocks churned in Q2 as the Federal Reserve raised rates again and signaled continued tightening to come. And the third quarter is off to a choppy start, thanks

  3. Investing - Hedge funds circle around debt-binge firms, Hedge funds pin macro hopes more on U.S. yield[more]

    Hedge funds circle around debt-binge firms From Bloomberg.com: Hedge funds and private equity firms are positioning to profit from the collapse of companies in Europe that have binged on debt. Investors have built up their distressed debt businesses by the most in at least two years in t

  4. Funds of hedge funds are opening at a record pace in China[more]

    From Bloomberg: An investment offering that most of the world has shunned is suddenly all the rage in China, and money managers from UBS Group AG to SkyBridge Capital are moving to grab a slice of the bounty. Funds of hedge funds, which allocate client money across multiple managers, are opening

  5. Preqin: Hedge funds take a dip in June[more]

    From AI-CIO.com: Hedge funds tripped again in June, recording the asset class' third negative month, as gauged by the 2018 Preqin All-Strategies Hedge Fund benchmark. June saw a 0.5% loss for the benchmark, giving the standard its worst start to a year in more than a decade. That benchmark is barely