- INVESTOR RESOURCES
Investors Resources
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Tips, Tools & Quizzes
A person is regarded as carrying on business giving advice on securities if he, by way of business -
A person (company or individual) may be regarded as carrying on business dealing in securities if that person (whether acting as principal or agent) by way of business makes or offers to make an agreement with another person to enter into or offer to enter into an agreement, for or with a view to acquiring, disposing of, subscribing for or underwriting securities or in anyway effects or causes to effect a securities transaction; or manages a portfolio of securities for another person on terms under which the first mentioned person may hold property of the other person.
Such a person must be licensed by the ECSRC.
The ECSRC may revoke a licence granted to an individual under Part IV of the Securities Act if that individual -
The ECSRC may also revoke a licence at the request of the licensee.
The ECSRC may revoke a licence granted to a company under Part IV of the Securities Act if -
The ECSRC may also revoke a licence at the request of the licensee.
Any person wishing to apply for any of the licences granted by the ECSRC may do so in accordance with the ECSRC'S application and licensing requirements. For more information on the ECSRC'S application and licensing requirements please visit here.
No. Unlike a broker dealer, a limited service broker is precluded from:
More information on limited service brokers can be accessed via Licensee/Prospective Licensee Resources.
It is a statutory requirement that licensees comply with the Standards of Conduct provisions under PART V, Conduct of Securities Business, of the Securities Act. Section 71 of the Securities Act outlines the thirteen Standards of Conduct provisions as follows:
'...In the conduct of securities business, a licensee shall at all times act according to the principles of best practice and, in particular, shall -
Every licensee is also subject to the provisions of the Securities (Conduct of Business) Regulations.
The following persons do not require an investment adviser licence to give advice on securities:
Apart from licensees the ECSRC is also the sole licensing authority for the following securities market institutions:
The ECSRC will not publicly disclose the existence of an investigation or details regarding an investigation, as disclosure may affect the outcome. In the investigation phase, the ECSRC will keep all investigations confidential so as to reduce the risk of potential harm to the character of the person/ entity under investigation if no further action is taken. If further action is taken, the investigation would be tried in a court of law.
Participating in the ECSM has the potential to provide alternative sources of financing for firms and alternate sources of revenue for investors.
The Eastern Caribbean Securities Regulatory Commission is located in St Kitts and Nevis at the Eastern Caribbean Central Bank’s Financial Complex.
You should make a complaint directly to the company. If your complaint is unresolved and the matter has occurred within the Eastern Caribbean Currency Union[1], make a complaint to the ECSRC.
[1]Member Territories of the Eastern Caribbean Currency Union included: Anguilla, Antigua and Barbuda, Commonwealth of Dominica, Grenada, Montserrat, Saint Kitts and Nevis, Saint Lucia and Saint Vincent and the Grenadines.
The ECSRC is comprised of five part-time Commissioners - two Commissioners from persons nominated by the Member territories, two Commissioners from persons nominated by the Chambers of Industry and Commerce, the Institutes of Chartered Accountants and the Bar Associations or from such other relevant professional bodies of the Member territories, and one Commissioner nominated by the Eastern Caribbean Central Bank. The selected nominees areappointed by the Monetary Council of the Eastern Caribbean Central Bank for terms of three to five years, with opportunity for reappointment.
The daily operations of the ECSRC are carried out by the ECSRC Secretariat which is managed by the Secretary. The ECSRC Secretariat is divided into four divisions, namely Administration, Market Regulation, Legal, Compliance and Enforcement and Corporation Finance. The ECSRC booklet outlines the functions of each division.
The Eastern Caribbean Securities Regulatory Commission is a body corporate responsible for the regulation of the securities market, exchanges, persons engaged in securities business and the public issue of securities in the Eastern Caribbean Currency Union (ECCU).
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