ESCRC MARKET GUIDELINES (1 OF 2017)

Author: ECSRC    |    Thu, Nov 2nd,2017


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) is seeking to promote standards and principles of best practice in the implementation of the policies and procedures governing the operations of licensed individuals and entities operating in the ECSM.

 

Pursuant to Section 71 of the Securities Act, 2001 licensees are guided by particular standards of conduct and “…shall at all times act according to the principles of best practice…” To this end, the Commission has developed guidance notes to assist in the effective administration of the Securities Act, 2001[1] and its accompanying Regulations, and the attainment of their purposes.

 

One of the main objectives of these Market Guidelines (No. 1 of 2017) is to provide supplementary guidance on internal control and management systems mechanisms that are expected to be instituted as self-regulatory measures by licensees to govern day-to-day securities operations as at 31 October 2017. These Guidelines will be used as a benchmark to determine the level of compliance by licensed entities with the relevant provisions of the Securities Act, 2001 and its accompanying Regulations in each member territory of the Eastern Caribbean Currency Union.

 

The Commission looks forward to the full cooperation of all licensees as we promote a fair, efficient and transparent ECSM.

 

Please download a copy of the Compliance and Internal Control Guidelines for Entities Licensed under the Securities Act from ecsrc.com.

 

[1] The Securities Act Chapter S13 of Anguilla; The Securities Act No. 14 of 2001 of Antigua and Barbuda; The Securities Act No. 21 of 2001 of the Commonwealth of Dominica; The Securities Act No. 23 of 2001 of Grenada; The Securities Act Chapter 11.01 of Montserrat; The Securities Act Chapter 21.16 of St Kitts and Nevis; The Securities Act Chapter 12.18 of Saint Lucia; and The Securities Act Chapter 261 of St Vincent and the Grenadines.