The Board

The Commission’s membership comprises a Chairman, Deputy Chairman, the Executive Director of the Securities Commission of The Bahamas as an ex-officio Member, and up to five other Members appointed by the Minister of Finance. The Minister appoints Members on the advice of the Commission and the securities and investment funds industries in The Bahamas, who appear to the Minister to be qualified as having had experience of or shown capacity in matters relating to industry, commerce, law, finance or administration.

The Chairman may hold office for a period of five years, and the Deputy Chairman and other Members for a period not to exceed four years. All members, including the Chairman, are eligible for reappointment. The Commission’s Executive Director holds office for five years and is eligible for a one-term reappointment on the recommendation of the Commission.

Membership

The Securities Industry Act, 2011 requires that the Membership of the Commission consists of a Chairman, a Deputy Chairman, and other Members not to exceed seven, all of whom are appointed at the discretion of the Minister of Finance. The Chairman holds office for a period of five years. The Deputy Chairman and other Commission Members hold their offices for a period not to exceed four years. All Commission Members, including the Chairman, are eligible for reappointment.

There are three ex-officio Members of the Commission: the Executive Director of the Commission, the Governor of the Central Bank of The Bahamas and the Superintendent of the Insurance Commission of The Bahamas. Other Members are chosen to serve on the Board based on their experience and expertise in the disciplines of commerce, law, finance, economics and administration.

Role of the Board

The Board of the Securities Commission of The Bahamas, which consists of the Members of the Commission, has the responsibility for the overall direction and governance of the organisation. The duties of the Board include overseeing the strategic focus and setting policy positions related to the Commission’s operation, as well as establishing rules and guidelines to govern investment funds, securities and the capital markets, and financial and corporate service providers.

Members

Members of the Securities Commission of The Bahamas.

Mr. Robert Lotmore

Mr. Robert Lotmore

Chairman
Mr. Michael Paton

Mr. Michael Paton

Deputy Chairman
Ms. Christina Rolle

Ms. Christina Rolle

Executive Director
Mrs. Dawn Patton

Mrs. Dawn Patton

Board Member
Ms. Tonique Lewis

Ms. Tonique Lewis

Board Member
Mr. Deno Moss

Mr. Deno Moss

Board Member
Mr. Bede Derek Sands

Mr. Bede Derek Sands

Board Member

Board Committees

Committees are established to assist the Board in carrying out its role. Currently there are two Board established Committees. The Committees are as follows:

Human Resources Committee

This committee assists the Commission in establishing and reviewing remuneration, benefits and other policies relating to staff of the Commission. The committee also reviews and updates the staff manual; reviews and monitors staff turnover and other human resources statistics; and hears and considers grievance matters raised by employees in accordance with the Commission’s formal grievance procedure.

Chair: Mr. Michael Paton

Audit

This committee advises and makes recommendations to the Commission on all matters relating to corporate governance including internal financial controls, internal and external audits and compliance with financial reporting requirements.

Chair: Mrs. Dawn Patton

Disciplinary Proceedings

The Commission, as a part of its function to maintain the integrity of the capital markets, has the authority to conduct investigations and hearings. The Board is empowered by the Securities Industry Act, 2011 to establish a Hearing Panel to assist in this process as well as to make Rules as to how these proceedings will take place.