The Securities Commission of the Bahamas was established in 1995 by the Securities Board Act, 1995, which has since been repealed and replaced with new legislation.
The functions of the Commission are prescribed in the Securities Industry Act, 2011 (SIA, 2011), as well as under the Investment Funds Act, 2003 (IFA), which authorizes the SCB to monitor and regulate investment funds, securities, and other capital markets transactions throughout the Bahamas.
In 2008, the SCB was appointed as the Inspector of Financial and Corporate Services that sought to provide it with supervisory and regulatory responsibility for the oversight of the Financial and Corporate Services Act, 2000.
Over the years, the Commission has expanded its regulatory scope and continues to operate on the principles of openness, stability, and investor protection.
Regulatory Role and Oversight
The SCB regulates and monitors a host of activities, businesses, and financial institutions.Its statutory authority enumerated in the Securities Industry Act, the Financial and Corporate Service Providers Act, the Digital Assets and Registered Exchanges Act, and the Carbon Credit Trading Act provides the Commission with a monitor, regulator to other businesses that conduct similar duties in connection with investment funds, securities or securities markets, financial and corporate service providers, digital assets and registered exchanges, trading in carbon credits and other recent developments in capital markets.
The Commission, at the same time, protects and educates investors and consumers, supervises and monitors markets, offers educational programs, and functions in a regulatory capacity to enforce statutes and laws.
The Commission has sought to:
1.Protect the investing public and consumers.
2.Promote fair and efficient trading and markets, transparency.
3.Mitigate systemic risks.
4.Foster a sustainable financial services development in The Bahamas.
The Commission can do the above because it shares information and works collaboratively with domestic and international market players to ensure its regulatory framework can manage and remain relevant and connected to best practices worldwide.
Mission and Vision
In executing its mission to protect the investing public, maintain appropriate levels of regulation, and support responsible and sustainable economic development in the Bahamas.
