Securities Commission Accepted to IOSCO’s Committee 3


The Securities Commission of The Bahamas (the Commission) announced today that it has been accepted as a member of the International Organisation of Securities Commissions (IOSCO) Committee on Regulation of Market Intermediaries (Committee 3). Committee 3 is one of IOSCO’s eight board committees that focus on regulatory issues affecting international securities markets.

Recent work of Committee 3 includes the publication of suitability requirements for the distribution of complex financial products and guidance for regulators on enhancing supervision of intermediaries that hold client assets. The Committee has also recently contributed to the Financial Standards Board’s recommendations on reducing the reliance of financial intermediaries on the ratings of credit rating agencies.

“Outside investment funds, the Securities Commission of The Bahamas (“the Commission”) is largely concerned with the regulation of market intermediaries whose clients, for the most part, invest in international markets through the Bahamas-based registered firm. In this regard, we offer a unique perspective to cross-border activity. We are looking forward to engaging with our international colleagues on Committee 3 to consider and contribute to global policy on regulatory issues,” said the Commission’s executive director, Ms. Christina Rolle.

The Commission is also a member of IOSCO’s Committee on Enforcement and the Exchange of Information (Committee 4) which includes membership in IOSCO’s Multilateral Memorandum of Understanding Screening Group.

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