About us

Who we are

The Securities Commission of The Bahamas (“the Commission”), established in 1995, is committed to the growth and development of a vibrant, competitive financial services sector renowned for regulatory excellence. The Commission is responsible for regulating and overseeing investment funds, securities and the capital markets in The Bahamas. The Commission utilizes market surveillance, regulatory oversight, enforcement of securities laws and its investor education program to protect investors, maintain fair, efficient and transparent markets, and reduce systemic risk.

The Commission also functions as the Inspector of Financial and Corporate Services (“the Inspector”), having been appointed the Inspector on 1 January 2008. In this capacity, the Commission is responsible for ensuring that all persons operate in accordance with the Financial and Corporate Services Providers Act, 2000, which provides for the licensing and regulation of financial and corporate service providers.

Please feel free to peruse the website, or to contact us if you need additional information.

Mission

To effectively oversee and regulate the activities of investment funds, securities and the capital markets, to protect investors while strengthening public and institutional confidence in the integrity of those markets

Vision

A vibrant, competitive financial services sector that has sound regulatory practices and policies that promote confidence.

Functions

Pursuant to the Securities Industry Act, s. 12, the functions of the Commission are to:

  • advise the Minister on all matters relating to the capital markets and its participants.
  • maintain surveillance over the capital markets and ensure orderly,fair and equitable dealings in securities.
  • foster timely, accurate, fair and efficient disclosure of information to the investing public and the capital markets.
  • protect the integrity of the capital markets against any abuses arising from financial crime, market misconduct and other unfair and improper practices.
  • promote an understanding by the public of the capital markets and its participants and the benefits, risks, and liabilities associated with investing.
  • create and promote conditions that facilitate the orderly development of the capital markets; and.
  • perform any other function conferred or imposed upon it by securities laws or Parliament.
  • In the exercise of its functions, the Commission is to satisfy itself that the provisions of the Financial Transactions Reporting Act, 2018 (FTRA) and any other Act or regulation administered by the Commission are being complied with.

Pursuant to the Financial and Corporate Services Providers Act, 2000 (FCSPA) s. 11 (3), the functions of the Inspector of Financial and Corporate Services are:

  • to maintain a general review of financial and corporate services in The Bahamas.
  • when an examination is deemed necessary by the Inspector, at the expense of licensee, to conduct on-site and off-site examinations of the business of the licensee for the purpose of satisfying himself that the provisions of the FCSPA, the Financial Transactions Reporting Act, the International Business Companies Act and any other law are being complied with and in such cases where the Inspector is unable to conduct such examination, to appoint an auditor, at the expense of the licensee, to conduct such examination and to report thereon to the Inspector.
Powers

Pursuant to the Securities Industry Act, 2011, s. 13, for the purpose of the discharge of its functions, the Commission has power, subject to the Act, to:

  • monitor the solvency of regulated persons and take measures to protect the interests of clients and otherswhere the solvency of any such person is in doubt,
  • regulate issuers offering their securities to the public, including public issuers and investment funds,
  • adopt measures to supervise and minimise any conflict of interests that may arise in the case of market participants,
  • regulate take-over bids,
  • take enforcement action against any person for failing to comply with securities laws,
  • recommend regulations to the Minister and formulate rules
  • publish notices, guidelines, bulletins, and policies describing the views of the Commission regarding the interpretation, application, or enforcement of securities laws,
  • make any order which the Commission may make under securities laws; and.
  • do all things, and take all actions, which may be necessary or expedient or are incidental to the discharge of any function or power given to the Commission.

In the performance of its duties under the Financial and Corporate Service Providers Act, 2000 (FCSPA), the Inspector of Financial and Corporate Service may at all reasonable times:

  • require a licensee to produce for examination such of his books, records and other documents that the licensee is required to maintain pursuant to section 15 of the FCSPA; and
    Require a licensee to supply such information or explanation as the Inspector may reasonably require for the purpose of enabling him to perform his functions under the Act -- FCSPA, s. 11(4).
General Information
Established: 1995
Establishing Legislation: Securities Board Act, 1995 (repealed and replaced)
Securities Industry Act, 1999 (repealed and replaced)
Securities Industry Act, 2011
Primary Legislation Administered Securities Industry Act, 2011
Investment Funds Act, 2019
Financial and Corporate Service Providers Act, 2003
Financial Transactions Reporting Act, 2018
Chairman Mr. Robert V. Lotmore
Executive Director Ms. Christina R. Rolle
No. of Employees 72 full time at 31 December 2018