A political blog about Bahamian politics in The Bahamas, Bahamian Politicans - and the entire Bahamas political lot. Bahamian Blogger Dennis Dames keeps you updated on the political news and views throughout the islands of The Bahamas without fear or favor. Bahamian Politicians and the Bahamian Political Arena: Updates one Post at a time on Bahamas Politics and Bahamas Politicans; and their local, regional and international policies and perspectives.
Chrislyn Skippings
Public Affairs & Communications Department (PACD)
P.O. Box N-458
Police Headquarters
Nassau, The Bahamas
Email: rbpfpaco@ gmail.com
chrislynskippings@ gmail.com
RBPF NEWS RELEASE 6202
Chrislyn Skippings — RBPF, PACO 13 November, 2022
Securities Commission of The Bahamas Poinciana House
North Building, 2" Floor
31A East Bay Street
P.O. Box N-8347
Nassau, The Bahamas
MEDIA RELEASE
Executive Director
Christina Rolle - 242-397-4100
The Commission wishes to advise that it has not directed, authorized or suggested to FTX Digital Markets Ltd. the prioritization of withdrawals for Bahamian clients.
The Commission further notes that such transactions may be characterized as voidable preferences under the insolvency regime and consequently result in clawing back funds from Bahamian customers.
1. The Securities Commission of The Bahamas (the Commission) is a statutory body established in 1995 pursuant to the Securities Board Act, 1995. That Act has since been repealed and replaced by new legislation.
2. The Commission’s mandate is defined in the Securities Industry Act, 2011 (SIA, 2011).
3. The Commission is responsible for the administration of the SIA, 2011 and the Investment Funds Act, 2019 (IFA), which provides for the supervision and regulation of the activities of the investment funds, securities and capital markets.
4, The Commission is responsible for the administration of the Financial and Corporate Service Providers Act, 2020.
5. The Commission is responsible for the administration of the Digital Assets and Registered Exchanges Act, 2020.
6. The Commission is responsible for the administration of the Carbon Credit Trading Act, 2022.
Dr. Darville explained that the current legislation is no longer sufficient to meet the evolving needs of NHI and the increasingly complex financial landscape presently in the country.
“Over the past few years, with the ongoing COVID-19 pandemic, we have witnessed first-hand the importance of maintaining accessible primary care and the impacts of primary healthcare coverage on the overall health and well-being of our people.
“We have also seen the staggering financial impacts of acute care and the tremendous burden at our hospitals brought on by patients suffering from chronic non-communicable diseases.”
He said the best prescription to address the country’s complex health challenges is an affordable and robust primary health system that can mitigate many of our health challenges brought on by the impacts of poorly managed non-communicable diseases like hypertension, diabetes and cancers undiagnosed in the earlier stages of clinical presentation.
Dr. Darville said this universal challenge was brought to the forefront by the Pan American Health Organization 30th Sanitary Conference in Washington D.C . a few weeks ago, and confirmed at the recent Cuban Health Conference.
“For this reason, I am introducing the National Health Insurance Bill, 2022 which will modernize the NHIA’s legislation to meet the current realities of the Bahamian health system.”
He said, “This bold move will certainly bring together both public and private clinical practices under a common financing structure that rewards performance quality and service excellence.”
He explained that the new Bill will lay the foundation for the launch of Catastrophic Care coverage, which is a priority for the administration.
He said through this proposed Bill, all private insurers that offer health insurance plans in the country will be required to offer the newly purposed Standard Health Benefit package as a minimum standard of coverage.
Dr. Darville said in this sense, NHIA will assume the role of the insurer of last resort and will protect the poorest and most under-served communities.
He also noted that in addition to introducing the Standard Health Benefit as the minimum standard for all health insurance plans in the country, this legislation will expand the network of providers to deliver services.
Dr. Darville said, “But let me reassure the general public that these providers will need to meet the Authority’s high-quality standards and they will not be a part of this entire process unless they prove to be in good standing with our medical licensing agencies.”
CONVENTION CENTER BAHA MAR RESORT CABLE BEACH 13 OCTOBER 2022
Ladies and Gentlemen:
On September 1st 2019, a devastatingly unprecedented Category Five hurricane made landfall in Abaco and then Grand Bahama. That was a terror the likes of which we’d never seen before.
Hurricane Dorian was, by all accounts, a freak hurricane—a product of an ever-warming planet. Global climate change is precipitating major shifts in weather patterns and setting the context for a world rife with unpredictable storm activity. It is us, low lying island nations across the hurricane, tornado and typhoon belt of the Atlantic and Pacific Oceans who are most vulnerable.
Few can provide a better firsthand account of the toll that natural, biological, and other climate-driven hazards have on small island nations like The Bahamas. Hurricane Dorian took many lives, and nearly decimated Abaco’s economy.
Our entire world reeled in the aftermath. If this were not enough, we were then confronted with Covid 19, the worst respiratory illness pandemic the world has seen since 1918. We have suffered.
We had two trying years of economic setback and social hardship on the heels of these major crises. The United Nations General Assembly has declared today, October 13, the International Day for Disaster Risk reduction.
Initiatives like this are crucial to advancing the charge for a world where extreme loss and tragedy are tempered and mitigated by implementing innovative response strategies and early warning measures. Today, on this International Day of Disaster Risk Reduction, we highlight the commitment and collective action of not only the Bahamian people, but of many countries worldwide in reducing devastation, loss of life, and economic setbacks resulting from disasters.
We are not alone in facing these challenges. Our friends, family, partners, and colleagues around the world face similar challenges. This rings especially true for our friends and partners from the University of Hawaii’s Pacific Disaster Center (PDC) who have been by our side and on the ground to support responses to Hurricanes Dorian, Joaquin, and Matthew.
Faced with similar challenges, The Bahamas and PDC are looking beyond reactionary measures to forge novel ways of thinking and doing in response to disaster. To this end, today we will sign an MOU between the University of The Bahamas and the University of Hawaii.
We have also recently completed a National Disaster Preparedness Baseline Assessment (NDPBA) in partnership with the PDC. The national baseline assessment provides a localized, detailed assessment of risk for each of the Family Islands.
It offers fresh insights to help meet the critical needs of each island and bolster our comprehensive national strategy for disaster management and mitigation. PDC’s national baseline assessment program is not merely recognized by the Bahamian government, but internationally by the United Nations and received first place in the Sasakawa Award for Disaster Risk Reduction earlier this year.
The program provides a global model for translating complex risk information into meaningful disaster management policy, planning, and action. These efforts support our Blueprint for Change, which details aggressive actions to kick start transformation in our economy and the way we recover and rebuild.
We are especially concerned with securing a sustainable, dignified and resilient future for all. The partnership between University of The Bahamas and the University of Hawaii will allow us to undertake joint scientific research between our institutions to promote sustainable solutions to help our island states better adapt to the impending crisis we both face.
Climate change is a slow onset mega disaster that threatens the entire globe and it requires a scientific foundation of knowledge to ensure that policy and actions are rooted in evidence. We can no longer afford to view ourselves in isolation from others, or act without reliable information.
We must work together across national borders to create a common scientific foundation, to maximize our collective efforts to build safer, more resilient communities. The Bahamas is proud to be at the frontier of this scientific approach with the University of Hawaii and PDC.
We aim for this work to benefit not only our island states, but all nations around the globe. Hurricane Dorian put us to the test—we faced that monstrous storm and suffered terribly.
In our little island country, we say: When you know better—do better. The government of the Bahamas is staunchly committed to doing all it can to implement effective disaster prevention measures and we are thankful to our partners at the PDC for their willingness and enthusiasm toward the same. Thank you.