Here’s the article rewritten in markdown format with proper headings, subheadings, and bullet points:
The Bahamas’ Legislative Framework for AML/CFT/CPF (2018-2021)
The Bahamas has been actively updating its legislative framework to combat Anti-Money Laundering (AML), Countering Financing of Terrorism (CFT), and Countering Financing Proliferation (CPF) from 2018 to 2021.
Enactments
Between 2019 and 2021, the following enactments were introduced:
- Securities Industry (Anti-Money Laundering and Countering of Terrorism) Rules, 2019
- Financial Corporate Services Providers (Anti-Money Laundering and Countering of Terrorism) Rules, 2019
- Non-Profit Organizations Act, 2019 and its subsequent amendment in 2019
- Companies (Amendment) Act, 2019
- International Obligations (Economic & Ancillary Measures) Orders (various)
- Digital Assets and Registered Exchanges Act, 2020
- Financial and Corporate Service Providers Act, 2020
- Insurance (Amendment) Act, 2021
- Investment Funds Regulations, 2020
- Securities Industry (Corporate Governance) (Amendment) Rules, 2020
Regulatory Framework
The regulatory framework for AML/CFT/CPF in The Bahamas is overseen by the following authorities:
- Central Bank of The Bahamas
- Compliance Commission
- Gaming Board
- Insurance Commission
- Securities Commission
These authorities have taken the following measures to enforce the regulations:
- Issued revised AML/CFT/CPF guidelines to licensees and registrants
- Conducted risk assessments of licensees and registrants
- Developed and implemented risk-based supervisory programs
Bills Being Considered for Enactment
The following bills are currently being considered for enactment:
- Anti-Terrorism (Amendment) Bill, 2021
- Banks and Trust Companies Regulations (Amendment) Bill, 2021
- Executive Entities (Amendment) Bill, 2021
- Evidence (Amendment) Bill, 2021
- Financial Transactions Reporting (Amendment) Bill, 2021
- Proceeds of Crime (Amendment) Bill, 2021
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