The Barbados Association of Compliance Professionals (BACP) is a non-profit organisation incorporated under the Companies Act of Barbados and represents the only local association for compliance professionals. It was formally established on April 8th, 2013. The Association comprises compliance and other relevant professionals in areas such as supervision, banking, finance, corporate and trust services, legal services and non-traditional business services which have regulatory obligations under Barbadian law.
It is a voluntary organisation that seeks to provide the necessary professional development resources to support individuals and entities in better understanding their roles and obligations. We also seek to support and contribute to national efforts to ensure the integrity of Barbados’ business infrastructure is maintained and enhanced by promoting a better and inclusive understanding of compliance by all members of our association.
BACP is a member of the Caribbean Regional Compliance Association (CRCA) which is the regional forum of compliance professionals represented by member compliance associations from the Caribbean and Central American regions.
Our Vision Statement
“To be the recognised local authority and resource in relation to compliance issues and for the development of the compliance profession and professionals to ensure the integrity of the local business environment.”
Our Mission Statement
To significantly contribute to the governance and compliance infrastructure of Barbados by providing quality resources and growth opportunities that support Barbados’ legislative and regulatory framework.
Our Values
• Integrity & Ethics • Professionalism • Trust & Accountability. • Collaboration • Focus & Commitment
Our Goals We have committed to pursuing the following objectives.
To assist in enhancing and maintaining Barbados’ sound reputation as a leading regional and international business centre with robust governance and compliance practices.
To provide educational and professional development opportunities to members and the wider community in order to minimise the incidence of associated risks.
To provide a platform for discussion of new local legislative and regulatory developments and international best practices relevant to compliance professionals and other interested parties.
To collaborate with the relevant stakeholders with respect to compliance matters by seeking partnerships with local, regional and global associations and form strategic alliances with other like-minded entities in order to further the association's objectives and vision.
To promote the development of the practice of compliance and governance in Barbados through relevant educational and research activities.
To provide a forum for networking and sharing information.
To provide high ethical and professional standards within the compliance and governance community.
To provide a reliable and timely information platform regarding new developments in the compliance arena locally, regionally and internationally.
