Welcome! You are invited to join a Free Webinar - Introduction to Equity Financing on Thursday 11th April from 11 am to 12:30 pm. After registering, you will receive a confirmation email about joining the meeting.
The 26th Eastern Caribbean Securities Market (ECSM) Certification Program will be held from 9th April to 18th April 2024. The objective of the programme is to familiarise participants with the principles and operations of the ECSM; and to prepare prospective market participants for the ECSM Certification Examination. Please click here to learn more and to register to participate in the Programme.
The Office of the Secretariat of the Eastern Caribbean Securities Regulatory Commission is now open for normal operations from Tuesday to Thursday each week from 8:00 am to 4:00 pm.
We continue to work remotely on Monday and Friday each week. You may contact us via email at info@ecsrconline.com or telephone 1 (869) 465-2537.
Thank you for your continued patience and cooperation.
The ECSRC may, if it thinks it necessary, suspend a licence of an individual or company licensed under PART IV of the Securities Act -
as a matter of urgency for the protection of investors, or
as a result of any investigation under the Securities Act or regulations made under the Securities Act; for a period, or until the happening of an event, as the ECSRC considers appropriate.
Question
Does a broker dealer require an investment adviser licence to give advice on securities or hold itself out as carrying on that business in the Eastern Caribbean Securities Market?
Answer
No. A firm licensed as a broker dealer is authorised to provide investment advisory services to the investing public.
Question
How many staff are employed by the ECSRC
Answer
Currently the staff complement is seven persons.
Question
What is the purpose of the ECSRC Secretariat
Answer
It is the office that performs the administrative and technical functions of the ECSRC.
What type of licensed firms are required by law to employ at least one representative and one principal?
Answer
A Broker dealer, Limited Service Broker or Investment Adviser (in the case of a company) must have within its employ at least one individual who is licensed as a principal and representative under the Securities Act.
Question
Which entities, other than licensees, are statutorily required to effect and maintain insurance coverage to conduct securities business?
Answer
The custodian and management company of a collective investment scheme are also required to effect and maintain appropriate policies of insurance coverage.
Question
Which licensees are not required by law to maintain insurance coverage to conduct securities business?
Answer
It is a statutory requirement that all licensees, with the exception of an accredited principal and representative, effect and maintain appropriate policies of insurance coverage.
Question
Why is there an insurance requirement for licensees?
Answer
The Securities Act requires licensees to effect and maintain appropriate policies of insurance coverage for the purpose of indemnifying the firm against any liability that may be incurred as a result of any act or omission by the licensee or any of its officers or employees in the conduct of the licensee's securities business.