Investigating complaints made in good faith about breaches of laws administered by the Securities Commission of The Bahamas is an important element of our work to protect investors/consumers of financial and corporate services, and to ensure fair and efficient capital markets.
There are a number of reasons a person may wish to file a complaint with the Commission. A few are listed below:
- He/she is the victim of, or suspects, an investment fraud or scam
- He/she is offered investments/investment advice by a person not licensed to do so
- He/she is denied legal entitlements, such as account statements, confirmations of trades, or appropriate treatment of personal information
- He/she received misleading or false investment information
- He/she is not receiving material information about an investment in a timely manner
- Cash or other assets are missing from an account
The Commission strongly recommends that, if you have a complaint against a registered securities firm, you should first try to resolve the matter with the firm directly.
To submit a complaint to the Commission directly, use the ecomplaints link below, or send an email directly to email@example.com. Alternative methods for making a complaint to the Commission are also provided below. All information you provide will be treated as confidential.
For additional information about the Commission’s disciplinary process, please see the Securities Industry (Disciplinary Proceedings)(Hearings and Settlements) Rules, 2017 .
Please keep the following in mind when making your complaint:
1. Be specific – The more specific your information is, the easier it is for the Commission to follow the lead in opening an investigation. Wherever possible, please provide the following items as they may help the Commission when investigating your complaint: Copies of any relevant, lawfully obtained documents, such as emails, phone records, text messages, activity logs, meeting notes, letters, or memoranda, related to your complaint;
A copy of any other documents that may be relevant to your complaint, such as policies and contractual agreements;
A current description of your job;
The names, titles, and contact information for the officers or personnel who made the decision and/or took the action that you are complaining about;
A list of names and telephone numbers of potential witnesses who can confirm your allegations. Please include a brief summary of what you believe each witness may know;
Documentation regarding additional complaints against the same person or entity, if any. This includes any ongoing or threatened litigation; and Any other information you think will support and/or help to prove your complaint.
2. Ensure we can contact you– Whether or not you provide your name with your submission, the Commission is committed to protecting your identity. However, because we may need to contact you for more information while investigating the matter, you should provide some means of contact such as an email address or telephone number. If your contact information changes after you submit your complaint, please inform the Commission.
3. Be aware of what the Commission can and cannot tell you – Commission staff will answer any procedural questions you have regarding making a complaint, but cannot give any legal advice. Also, because all Commission investigations are confidential and non-public, the staff is prohibited from revealing any information about investigations, including confirming or denying the existence of an investigation. For the same reason, you should not expect the Commission to provide an update on the status of your complaint. However, if the Commission opens an investigation based on your complaint, it is highly likely that staff of the Commission’s Enforcement Department will contact you concerning obtaining further information.
In addition to using firstname.lastname@example.org to file a complaint electronically, persons filing a complaint may use the media below.
Fax/Mail– Fax or mail a letter describing your complaint, or a printed copy of your completed online complaint to the Securities Commission’s offices at Poinciana House, North Building, 2nd Floor, 31A East Bay Street, Nassau, The Bahamas, fax: (242) 356-7530.
Telephone - Call the Commission at telephone (242) 397-4100 and our staff can discuss your complaint with you and respond to any questions you may have.
In person – Visit the Commission at its offices: Poinciana House, North Building, 2nd Floor, 31A East Bay Street, Nassau, The Bahamas. Staff can accept your verbal complaint and you can provide information as needed.
While the telephone and in person methods are options to alert the Commission to possible infractions of the laws under its administration, please note that all complaints must be in writing in order for the Commission to proceed with an investigation.
“Whistleblowing” is a specific type of complaint that arises from an employee of an entity reporting, in good faith, a breach of law by his or her employer or fellow employees, to an agency legally empowered to address the breach. The Securities Commission of The Bahamas is in the process of developing a comprehensive whistleblower programme for legislation under its administration.
Until the programme is developed and implemented, all persons filing a complaint may send the details of the complaint, including their contact information, using the email@example.com facility, or one of the alternative methods of filing a complaint. All information provided will be treated as confidential.