Mon, Feb 18, 2019
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. New Launches: Royal London launches new Greetham fund, Direct lending specialist unveils multi-manager credit fund, PeakSpan Capital announces final close for Fund II on $265m, Mubadala's venture capital unit to launch $400m European fund, Lazard offers Scandinavian bond fund[more]

    Royal London launches new Greetham fund From FT Adviser: Royal London's Multi Asset Strategies is the latest fund to be launched for Trevor Greetham and his eight-strong multi-asset team. It targets annualised total returns of cash, defined as the Sterling Overnight Index Average, p

  2. New Launches: AI venture capital firm InReach Ventures launches new $60m fund[more]

    From Telegraph: InReach Ventures, a venture capital firm using artificial intelligence to spot the most promising early stage startups in Europe, has closed a new EUR53m ($60m) fund, as it said the Brexit process would be unlikely to decrease entrepreneurship in the EU. InReach Ventures said it

  3. Outlook: Why Paul Tudor Jones fears a 'revolution', A lot of 'negative surprises' will hit the markets in coming months, hedge-fund veteran Mark Yusko says[more]

    Why Paul Tudor Jones fears a 'revolution' From Institutional Investor: Billionaire hedge fund manager Paul Tudor Jones; Robert Shiller, the Yale University professor who is a co-winner of the Nobel Prize in economic sciences; and DoubleLine Capital's deputy chief investment officer Jeff

  4. Opalesque Exclusive: UK hedge funds to prepare their senior managers for new regulatory regime[more]

    B. G., Opalesque Geneva: Sani Jackson, London-based director at Optima Partners, a global regulatory compliance and risk management firm, warns UK-based fund managers of some (non-Brexit related) regulatory issues they cannot ignore this y

  5. Opalesque Exclusive: BDO Survey: 89% of GPs expect a downturn within the next two years[more]

    Bailey McCann, Opalesque New York: Private equity appears to be preparing for the worst. 89 percent of private equity fund managers expect a prolonged downturn sometime in the next two years, according to the findings of a newly released survey from BDO. The trade war was cited as a top conce