SECURITIES COMMISSION OF THE BAHAMAS

PRESS RELEASE - FOR IMMEDIATE RELEASE

RE: SERIES 7 EXAM SOFTWARE ERROR 

February 20, 2006

The Securities Commission of The Bahamas (”the Commission”) has been made aware that a software error introduced into the automated scoring mechanism for the National Association of Securities Dealers administered Series 7 exam affected a limited number of individuals who sat the exam between October 2004 and December 2005.  Some candidates whose scores were on the pass/fail border received a failing grade erroneously.  Due to this, the NASD is refunding individuals for examination, late cancellation and no-show fees incurred due to affected individuals’ re-testing for the Series 7 examination.

Please contact the Authorizations Department of the Commission if you feel you are among the individuals affected by this software error during the period stated above.  The re-imbursement form is available from the Commission.  Once completed, the form and a copy of your results sheet are to be submitted to the Commission no later than Friday, March 3, 2006 and representation will be made to the NASD on your behalf by the Commission.

For more information please contact: Mr. Hillary Deveaux

Telephone: (242) 356-6291/2

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