SCB

The Securities Commission of The Bahamas (SCB) is the primary regulatory authority overseeing the financial markets in The Bahamas. Established in 1995, the SCB has played a crucial role in ensuring the stability and integrity of the country’s financial sector.

SCB History

The SCB was established in 1995 under the Securities Industry Act, which was later replaced by the Securities Industry Act, 2011. The creation of the SCB aimed to develop a robust financial system, promote economic growth, and maintain a stable financial market in The Bahamas. Over the years, the SCB has played a significant role in developing and implementing policies that promote transparency, efficiency, and investor protection in the Bahamian financial sector.

SCB Scope and Supervision

The primary objective of the SCB is to maintain the stability and integrity of the financial sector in The Bahamas. Its wide-ranging responsibilities include:

1. Licensing and regulating financial institutions: The SCB oversees various financial institutions, such as investment firms, securities market participants, and mutual fund administrators, ensuring they adhere to strict regulations and maintain market stability.
2. Supervising the financial markets: The SCB is responsible for regulating and supervising the financial markets in The Bahamas, ensuring proper disclosure, transparency, and fair trading practices.
3. Implementing anti-money laundering and counter-terrorism financing measures: The SCB enforces compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations to maintain the integrity of the financial system.
4. Protecting consumers and investors: The SCB works to safeguard the interests of consumers and investors by enforcing regulations, promoting transparency, and raising awareness of potential risks.

SCB Investor Compensation Guarantees

The Bahamas does not have a specific investor compensation scheme or guarantee. However, the SCB ensures that financial institutions and market participants adhere to high standards of financial reporting, risk management, and solvency. This approach helps to minimize the risk of financial institution failures and protect the interests of investors and consumers.

Organization Type

The SCB is an independent statutory body that operates under the jurisdiction of the Government of The Bahamas. Its independent status allows the SCB to make impartial decisions in the best interest of the financial markets and investors. The SCB is governed by a board of commissioners, which is responsible for setting the strategic direction and ensuring effective oversight of the organization’s operations. The day-to-day operations of the SCB are managed by its Executive Director, who is supported by a team of specialists and experts.