Bahamas:
Important Member Notice: Update On Bahamas Delisting – European Union AML
14 January 2022
Bahamas Financial Services Board
To print this article, all you need is to be registered or login on Mondaq.com.
We are pleased to advise that On Friday 7 January 2022, the
European Commission adopted a new regulation to update the EU AML
Blacklist, including delisting The Bahamas from the List of
Third-country Jurisdictions which have Strategic Deficiencies in
their AML/CFT Regimes (AML Blacklist). It has now been shared with
the European Parliament and Council for formal consultation. After
such consultation, the regulation will be published in the Official
Journal of the European Union and entering into force 20 days after
its publication.
Please see attached press release issued by the Office of The
Attorney General as well as the relevant EU Delegated
Regulation.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Finance and Banking from Bahamas
The "BVI Advantage": A 2024 Perspective
Collas Crill
Once upon a time, half way across the world and well over a decade ago, I gave my first client presentation on the merits of the BVI for cross border structuring to a roomful...
Registering Private Funds With CIMA
Conyers
All Cayman entities that fall within the definition of "private fund" in the Private Funds Act (2021 Revision) are required to register with the Cayman Islands Monetary Authority (CIMA).
Regulatory Insights - March 2024
KPMG in Cyprus
In a world of increased globalisation, regulation continues to be a key driver of the strategic agenda for financial services firms.