Financial Services, Insurance Law & Regulation

Regulatory compliance is a critical to any financial services firm in today’s environment. Remaining compliant is challenging given constant changes to the principles of risk management and regulatory compliance, internationally and in The Bahamas.

Our Financial Services Law & Regulation Practice Group has extensive experience in anti-money laundering and regulation and advises local and international banks, trust companies and securities firms operating within and/or from The Bahamas on the laws and regulations governing the financial services industry.

We are able to draw on our wealth of experience to offer prompt and clear advice to help our clients determine how best to maintain compliance in an increasingly complex and dynamic regulatory environment.

We are able to assist applicants for licenses or registration to operate under various financial services related regimes, as well as to advise existing licensees and registrants through regulatory issues that might arise. We are also able to assist financial service firms with satisfying the regulatory requirements relative to anti-money-laundering and counter financing of terrorism, including:

• 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