Departments of the Commission

The Administration Department is responsible for planning and overseeing general administrative support and office services; including the Commission’s document management systems. The department is also responsible for general safety requirements within the premises and maintenance of the Commission’s equipment and vehicles.

The Enforcement Department is primarily responsible for implementing the Commission‘s disciplinary actions pursuant to various laws administered by the Commission. The department also defends the Commission in litigation matters and, where deemed necessary, initiates litigation to enforce laws administered by the Commission. The department is also responsible for investigating operations or entities (involving both companies and individuals) that are operating in The Bahamas without a licence or registration required by law.

The Human Resources Department is responsible for the daily management of the human resources of the Commission, which includes ensuring adequate human capital to facilitate the Commission's mandate, as well as implementing and enforcing staff regulations.

The Information Technology Department is responsible for facilitating the information and electronic communication needs of the Commission.

The Office of the Financial Controller is responsible for all of the Commission's financial matters, including preparation and monitoring of annual budgets and the preparation of financial statements.

The Office of Legal Counsel is responsible for providing legal advice to the Commission, assisting in the review and development of laws related to securities, the capital markets, financial and corporate services and financial sector legislation generally, assisting in development and review of the Commission’s guidelines and policies relating to the laws under the Commission’s administrative remit, and managing matters of international cooperation.  The Legal Counsel also serves as the Secretary to the Board.

The Risk Analytics and Examinations Department is divided into two complementary units.  This Risk Analytics Unit is tasked with monitoring solvency and operational and conduct risks of the Commission’s licensees and registrants, including continuous AML/CFT monitoring.  The unit’s work informs the Examinations Unit’s priorities.  The Examinations Unit is responsible for on-site examinations of all registrants and licensees.  This includes processing and recommending applicants to act as the Commission’s agents for the on-site examination of financial and corporate service providers, and reviewing any examinations they conduct on behalf of the Commission.

The Office of the Executive Director is responsible for the day-to-day operations and overall management of the Commission.  Its functions include managing local and international stakeholder relationships, managing the Commission’s investor education programme, overseeing public relations and communications, collecting, analysing and reporting statistical data, facilitating strategic planning, supporting the development of research and policy papers, monitoring international standards setters, and maintaining compliance with the internal procedures and policies of the Commission. To achieve its task, the office is divided into three units: Investor Education and Communications, Policy and Compliance, and Project Management and International Relations.

The Supervision Department is responsible for processing applications for the licensing and registration of persons wishing to conduct registrable and licensable activities under the SIA, IFA, or FCSPA (“the Acts”).  Additionally, it is responsible for the offsite monitoring and supervision of market participants under the Acts. The department is also responsible for the review and registration of prospectuses for public offerings and private placements.