All participants in the securities industry are required to register with the Securities Commission of The Bahamas. The Securities Industry Act, 1999 envisions two categories of registration for firms:

– Broker-Dealer
– Securities Investment Advisor

Registration as a *Broker-Dealer* authorises a company to (a) underwrite securities offerings and (b) trade in securities. Broker-Dealers are required to register their key personnel as Principals (CEO, Compliance Officer), Brokers, Traders and Associated Persons.

Registration as a *Securities Investment Advisor* authorises a self-employed individual (or a sole proprietor), a partnership, or a company to provide investment advisory services. Individuals providing securities investment advice to the public, and employed by securities investment advisor firms, are required to register in their individual capacities as securities investment advisors.

The Commission has advised that all individuals and companies engaged in securities activities are required to apply for registration by November 30, 2001.

Section 29 (6) of the Securities Industry Act provides for significant monetary penalties in the event that persons and companies who are required to register fail to do so.

Application forms can be downloaded from the Commission’s www site, or obtained from:

The Manager
Securities Department
Securities Commission of the Bahamas
Charlotte House
P.O. Box N8347
Nassau, N.P., The Bahamas

The Securities Commission of the Bahamas is the government agency mandated to regulate the securities industry in The Bahamas.