The Tribune

The Bahamas’ commercial ties to Latin America were underlined on September 4 at the Society of Trust and Estate Practitioners (STEP) Latin American conference in Mexico City.

The Bahamas was represented by Ryan Pinder, minister of financial services, and John Lawrence, chairman of Windermere Corporate Management, who both spoke at the event that was chaired by Wenceslao Renovales of STEP Mexico.

Mr Pinder spoke on the international policy issues facing the private wealth management sector in 2015, including the need to balance transparency with protecting families’ financial privacy.

He said: “We are very aware of LATAM risk related to personal safety and security, and in the era of information exchange a receiving country must be able to ensure the confidentiality and protection of that information. This is a human rights issue.”

Mr Lawrence discussed the importance of developing an business international network, and the need to provide global - not just local - solutions for cross-border business.

Mr Lawrence, who is also STEP’s worldwide deputy chair, said: “STEP’s strong global presence gives members access to the world’s brightest and best practitioners to assist with solving a client’s complex cross-border challenges. This global profile has enabled many members to develop a network of gold standard practitioners and provide a true trusted adviser service.”

The STEP LATAM 2014 conference in Mexico City represented the organisation’s fourth conference since the inaugural event, which was also held in Mexico City.

More than 350 delegates attended, including professionals from throughout Latin America and the Caribbean, exchanging ideas and views on the latest initiatives and legislation impacting international and domestic estate planning.

The Ministry of Financial Services, which took a presenting sponsorship role at STEP LATAM, worked alongside the Bahamas Financial Services Board (BFSB) to sharing publications and promotional material, and accommodating joint and individual meetings with delegates.

STEP has more than 19,400 members across 95 jurisdictions from a broad range of professional backgrounds, including lawyers, accountants and trust specialists who provide wealth structuring expertise.