Compliance Commission of The Bahamas

The Compliance Commission of The Bahamas (the Commission) is an Independent Statutory Authority established under section 39 of the Financial Transactions Reporting Act, 2000) and continues in existence under section 31 of the Financial Transactions Reporting Act, 2018 (FTRA, 2018). This Statutory Body exist for the express purpose of ensuring that financial institutions within its remit (as set out in section 32(2) and subsequently in sections 3 and 4 of the FTRA, 2018), comply with the provisions of the FTRA. The Commission commenced its operation on January 1st 2001 as the Anti-Money Laundering Regulatory Authority for Designated Non-Financial Business and Profession specified in section 4 paragraphs (a), (b), (c), (e), (f), (g) (iv), (h), (i), (j), and (k) of the FTRA, 2018, inclusive of real estate agents and brokers, land developers, dealers in precious metals, precious stones and pawn shops, lawyers, accountants and designated government agencies. Although it is an independen...