Guidelines to Assess the Fitness and Propriety of Compliance Officers, Industry Consultation
Published: Wednesday May 20th, 2026
The Central Bank of The Bahamas (the Central Bank) is issuing, for a 15-day consultation period, its Guidelines to Assess the Fitness and Propriety of Compliance Officers. The guidelines expand upon the existing framework for Assessing the Fitness and Propriety of Applicants for Regulated Functions with a specific focus on the role and function of Compliance Officers (CO).
The proposed Guidelines set out the authorisation requirements for the approval of CO, address outsourcing considerations, and require the submission of an annual attestation by Supervised Financial Institutions (SFIs).The Guidelines also establish the Central Bank’s expectations regarding the effective oversight and functioning of the CO within SFIs, and outline the governance framework necessary to ensure an independent and adequately resourced compliance function.
The document may be accessed on the Central Bank’s website at www.centralbankbahamas.com via the following path:
The consultation period for SFIs to provide feedback regarding the guidelines will end on 10 June, 2026. Comments and enquiries regarding the Guidelines should be directed to the following:
Policy Unit
Bank Supervision Department
E-mail: [email protected]
