OBJECTIVES

The legislation relating to the securities industry, including the investment funds industry, which are administered by the Commission, are designed to ensure that adequate disclosure of material information for investment products is available to facilitate informed investment analysis and decisions by the investing public.  Disclosure requirements are designed to be thorough but not burdensome on individuals seeking to invest in or from The Bahamas.

Although the Commission ensures compliance with Bahamian law and promotes adequate disclosure and fair dealing, this is not intended to, nor does it imply endorsement of the merits of any investment.  The Commission only requires that information be accurate, comprehensive and be disclosed in a timely fashion.

MANDATE

Our mandate is to:

• Protect investors from inequitable dealings, unfair and fraudulent practices.

• Continually monitor changes in the market environment, technological advancements and international principles.

• Educate and inform the public of available investment products in the securities market.

 
FUNCTIONS

In order to fulfill this mandate the Commission is charged with the responsibility to:

• Formulate principles to regulate and govern mutual funds, securities and capital markets.

• To maintain surveillance over mutual funds, securities and capital markets ensuring orderly and fair dealings.

• To create and promote conditions to ensure the orderly growth and development of the capital markets.

• To advise Minister generally regarding mutual funds, securities and capital markets.

• To do such other things as may be prescribed by statute law.
   

POWERS

The Commission is empowered by law to establish rules that govern the financial markets.

Other powers include:

• Investigating violations of legislation and regulation exercising the power of search, the power to compel evidence, inspect records and the power to confiscate assets.

• Conducting regulatory hearings to deny, suspend or cancel a registration.

• Prohibiting/Suspending trading and other privileges.

• Disciplining market participants engaged in illegal activity.

• Imposing penalties of up to $300,000.00 and imprisonment of up to 2 years or both.

WE REGULATE

• intermediaries in the investment or negotiation of securities i.e. brokers/agents

• underwriters, agents etc.; who issue public offerings;

• advisors on the investment or sale of securities, i.e. promoters and their associates.

• investment fund administrators, trustees, custodians, operators and their representatives.

• the securities market, the stock exchange and any other bodies prescribed by statute law.