Securities Registries Need to Be Licenced
Basseterre, November 13, 2002 The Eastern Caribbean Securities Regulatory Commission has issued a notice informing all firms or individuals operating or intending to operate a securities registry business of the need to be licenced by the Commission. The notice, dated October 23, 2002, advises that under the Securities Act 2001, which governs the conduct of securities business in ECCU member countries, it is an offence to establish, operate or assist in operating a securities registry business, which has not been licenced by the Commission. Any person or company in breach of the law will be liable on conviction to a fine, a term of imprisonment or both. Individuals face a maximum fine of $50,000 and imprisonment for up to one year, while companies may be fined up to $100,000.00. Both the individual and the company may incur an additional penalty of $1000.00 for each day the offence continues following conviction. Persons requiring application forms should contact the office of the Secretary of the ECSRC, at the ECCB Financial Complex, Bird Rock, St Kitts, by telephone, (869) 465-2537, by fax (869)-466 8954, or by E-mailing eccbsup@caribsurf.com.
Eastern Caribbean Securities Regulatory Commission
P O Box 1855, Basseterre,
St. Kitts
Contact Person: Mignon Wade, Secretary
Phone: (869) 466-7192
Fax: (869) 466-8954
Email: eccbsup@caribsurf.com
