The Tribune

SEVERAL pieces of financial services legislation passed at-end 2011 will be looked at in depth during an upcoming seminar enititled, The Bahamas Advantage: An Evolving and Dynamic Legislative Regime. The Bahamas Financial Services Board (BFSB) will partner with the Society of Trust and Estate Practitioners (STEP), the Association of International Banks & Trust Companies (AIBT) and The Bahamas Institute of Chartered Accountants (BICA) to host the seminar on February 16. The Trustee Amendment Act 2011, Rule Against Perpetuities (Abolition) Act 2011, Executive Entities Act 2011, International Business Companies (Winding Up) Amendment Act 2011 and Companies Act (Winding Up) Amendment Act 2011 will all be discussed. In Session I (jointly sponsored by the BFSB, STEP and AIBT) panellists will address the reforms to the Bahamas' private wealth management platform. Attorney and trust expert, David Brownbill QC, has been confirmed as a speaker at the seminar. Mr Brownbill and the BFSB's Trust Review Committee were instrumental in the amendments to the Trustee Act. He is an editor of International Trust Laws, and a member of the International Academy of Estate and Trust Law and the Society of Trust and Estate Practitioners. He will be joined by other presenters from the Trust Review Committee, including, Dr Earl Cash, partner, Higgs & Johnson; Heather Thompson, partner, Higgs & Johnson; Tanya Hanna, partner, Graham Thompson; and, Arthur Seligman, partner, Lennox Paton. Sean McWeeney, QC, partner at Graham Thompson, will also be in attendance and available to answer questions. In Session II (sponsored by the BFSB and BICA), panellists will look at the amendments to the International Business Companies Act and to the Companies Act. John Delaney QC, Attorney-General, will speak about why insolvency reform was necessary. Brian Moree QC, senior partner, McKinney Bancroft & Hughes, will take us through the amendments. He will be joined by experienced liquidator and insolvency practitioner, Anthony Kikivarakis, partner at Deloitte & Touche (Bahamas), who will relate some of the "war stories" from his many years in practice. BFSB chief executive, Aliya Allen, said: "The legislative developments and the seminar itself reflect the close and ongoing partnerships which BFSB enjoys with industry associations. These partnerships have been and will remain a vital channel for meaningful action that is in the best interests of the industry and our jurisdiction. Members are encouraged to take advantage of this partnership project."