As part of its mandate to ensure the highest standards of professional and other activities within the Eastern Caribbean Securities Market (ECSM), the Eastern Caribbean Securities Regulatory Commission (the Commission) seeks to provide clear policies and procedures to assist all licensees and prospective licensees in the ECSM, in navigating the regulatory and supervisory licensing process.
The revised Eastern Caribbean Securities Regulatory Commission (ECSRC) Agreement is now in effect.
The Instruments of Ratification in support of the Revised ECSRC Agreement were deposited with the Director General of the Organisation of Eastern Caribbean States, marking the final stage to bring the revised Agreement into operation.
The Eastern Caribbean Securities Regulatory Commission (ECSRC) advises the public in the member countries of the Eastern Caribbean Currency Union (ECCU) to be aware of fraudulent investment offerings that are being circulated via the internet and other channels.
These scams are currently being promoted using the COVID-19 pandemic as a cover to target unsuspecting or vulnerable individuals in times of economic stagnation and downturns. They include: Pyramid Schemes, Unauthorised Forex Trading, false COVID-19 related investments and Work From Home and Personal Finance Scams.
The Eastern Caribbean Securities Regulatory Commission (“Commission”) informs of a revision of its licensing policy for individual licence holders. At present, a licence granted to an individual to operate as a Principal, Representative or Investment Adviser in the Eastern Caribbean Securities Market (ECSM) is subject to immediate revocation if the individual licence holder is no longer employed with a licensed intermediary and the Commission has not received the required notification of a change in the individual’s employer. Since the Securities Act 2001 does not provide for the reinstatement of a licence, a former licence holder must reapply, if he/she wishes to participate in the ECSM after his/her licence has been revoked by the Commission.
In fulfilling its mandate to promote a securities market that is fair, efficient and transparent, the Eastern Caribbean Securities Regulatory Commission (ECSRC), at its 76th Meeting held on 27 March 2020, approved the attached Eastern Caribbean Securities Market (ECSM) Corporate Governance Rules (No. 1 of 2020). These Rules shall apply to all public companies whose securities are listed on a securities exchange in the Eastern Caribbean Currency Union (ECCU) and any issuer that has or is proposing to raise capital through the public issue of its own securities in the ECSM.