SIA Bill 2011
Departments of the Commission

Our Vision

A vibrant, competitive financial services sector that has sound regulatory practices and policies that promote confidence.

Our Purpose

To contribute to the growth and development of a financial services sector that is vibrant and competitive.

Office of the Executive Director

The Office of the Executive Director is divided into two units, namely: Investor Education/Communications and Policy/Compliance. The department’s primary responsibilities include managing local and international stakeholder relationships, managing the Commission’s investor education programme, overseeing public relations and communications, collecting, analysing and reporting statistical data, facilitating strategic planning, supporting the development of research and policy papers, monitoring international standards setters, maintaining compliance with internal procedures and policies.

Human Resources Department

The Human Resources Department is responsible for the daily management of the human resources of the Commission, which includes ensuring adequate human capital to facilitate the Commission's mandate, as well as implementing and enforcing staff regulations.

Administration Department

The Administration Department is responsible for planning and overseeing general administrative support and office services. The department is also responsible for general safety requirements within the premises and maintenance of the Commission’s equipment and vehicles.

Office of the Financial Controller

The Office of the Financial Controller is responsible for all of the Commission's financial matters, including annual budgets and the preparation of financial statements.

Information Technology Department

The Information Technology Department is responsible for facilitating the information and electronic communication needs of the Commission.

Authorisations Department

The Authorisations Department is responsible for processing applications for the licensing and registration of market participants under the Securities Industry Act (SIA), Investment Funds Act (IFA) and licensees under the Financial and Corporate Service Providers Act (FCSPA).

Market Surveillance

The Market Surveillance Department is responsible for the off-site monitoring and supervision of market participants under the SIA and IFA and licensees under the FCSPA. It is also responsible for the review and registration of prospectuses for public offerings and private placements.

Inspections Department

The Inspections Department is responsible for the supervision and on-site monitoring of market participants under the SIA and IFA and licensees under the FCSPA.

Enforcement Department

The Enforcement Department is primarily responsible for carrying out the Commission‘s disciplinary actions pursuant to the SIA, IFA and their respective regulations. The department also defends the Commission in matters where court action arises and initiates court action where deemed necessary to enforce laws administered by the Commission. The department is also responsible for investigating operations or entities (involving both companies or individuals) that are operating in The Bahamas without a licence or registration required by law.

Office of Legal Counsel

The Office of Legal Counsel is responsible for providing legal advice to the Commission, assisting in the review and development of securities and capital markets related laws as well as financial sector legislation generally, assisting in development and review of the Commission’s guidelines and policies relating to securities laws and managing matters of international cooperation. The Legal Counsel also serves as the Secretary to the Board.

Adobe Download