The Securities Commission of The Bahamas has issued a directive requiring all licensees and registrants to review a list of seven United Nations sanctioned Haitian nationals and submit information on any bank accounts and assets those individuals may hold with the institution, whether in their own names or through proxies, in line with obligations under the International Obligations Economic and Ancillary Measures Act. The notice identifies Vitel’homme Innocent, Andre Johnson (Izo), Joseph Wilson (Lanmo San Jou), Jimmy Cherizier (Barbeque), Renel Destina (Ti Lapli), Victor Prophane and Elan Luckson (Elan Lucson and Jeneral Luckson). Where a positive match is found, firms must complete the applicable Targeted Financial Sanctions Reporting Form and submit it to the Financial Intelligence Unit and the Office of the Attorney General within 24 hours of issuance of the notice, and also provide the Commission with confirmation that those submissions have been made. Failure to submit the required reports is an offence punishable by a fine not exceeding BSD 250,000, and non-compliance with a Commission directive may also result in disciplinary action including a minimum fine of BSD 200 per day. Licensees and registrants are urged to consult United Nations Security Council sanctions list resources regularly to support ongoing compliance and record keeping.
Bahamas Securities Commission 2025-08-06
Securities Commission of The Bahamas directs firms to report any accounts or assets linked to seven UN sanctioned Haitian nationals
The Securities Commission of The Bahamas has instructed all licensees and registrants to review a list of seven UN-sanctioned Haitian nationals and report any related bank accounts or assets. Positive matches require submission of a Targeted Financial Sanctions Reporting Form to the Financial Intelligence Unit and the Attorney General's Office within 24 hours, with confirmation to the Commission. Non-compliance may result in fines up to BSD 250,000 and additional disciplinary actions.