The Securities Commission of The Bahamas published its 2024 annual report, setting out a refreshed mission, vision and values as part of its 2025–2027 strategic planning and reporting delivery against its 2021–2024 programme. The report also highlights the Commission’s operational modernisation and the implementation of the Securities Industry Act 2024 and the Digital Assets and Registered Exchanges Act 2024, both effective from 29 July 2024. Delivery against the 2021–2024 strategic plan was tracked through 50 targeted initiatives, of which 84 percent were completed or significantly progressed. Key operational measures included Project Butterfly and the enhanced Compliance and Regulatory Interface (CoRI) electronic filing portal (launched 31 January 2024, with 84 percent of licensees and registrants onboarded by year end), IT infrastructure upgrades, a strengthened information security framework, and the establishment of an Internal Audit Unit. Regulatory framework work in 2024 included publishing AML/CFT/CPF Rules 2024 for the Commission’s licensees and registrants, implementing revised Fees Rules across sectors (draft rules consulted on 3 October 2024 and published on 23 December 2024), and rolling out DARE 2024’s expanded perimeter and requirements, including staking and stablecoin frameworks, alongside SIA 2024’s broadened scope to commodities and derivatives and its new powers to designate digital assets as securities. For 2025, Phase Two of Project Butterfly is intended to deliver further CoRI forms and workflows, and work is underway to update the Commission’s Digital Asset Policy Statement following the replacement of DARE 2020. Policy development is continuing on a capital markets green paper (including an addendum on a potential mandatory occupational pension framework for private employers) and on a future recommendation for a voluntary sustainability disclosure standard for public issuers and ESG funds based largely on International Financial Reporting Standards Foundation S1 and S2; the report also notes preparatory work for a Caribbean Financial Action Task Force mutual evaluation expected to be scheduled in 2026.
Bahamas Securities Commission 2025-10-02
Securities Commission of The Bahamas updates mission and vision and maps 2025–2027 priorities after completing 84 percent of its 2021–2024 initiatives
The Securities Commission of The Bahamas released its 2024 annual report, detailing its strategic plan for 2025–2027 and 84% progress on 2021–2024 initiatives. Key developments include implementing the Securities Industry Act 2024 and the Digital Assets and Registered Exchanges Act 2024, operational modernisation, and regulatory framework enhancements. For 2025, the Commission plans to advance Project Butterfly, update its Digital Asset Policy, and develop a capital markets green paper and sustainability disclosure standards.