CHAIRMAN'S MESSAGE

Promoting a safe environment for
investing on the Eastern Caribbean Securities Market

Welcome to the first issue of the ECSRC Newsletter! The publication of this inaugural issue of our electronic newsletter brings us great pride as it coincides with the celebration of the 15th Anniversary of the commencement of the operations of the ECSRC.

The ECSRC was created following the establishment of the Eastern Caribbean Securities Market (ECSM) as the primary authority for the regulation of participants and activities on the ECSM. The ECSM enables institutions operating in the eight member territories (Anguilla, Antigua and Barbuda, the Commonwealth of Dominica, Grenada, Montserrat, St Kitts and Nevis, Saint Lucia and St Vincent and the Grenadines) of the Eastern Caribbean Currency Union (ECCU) to access financing and provides prospective investors with alternative sources to invest their savings. This is facilitated through the Eastern Caribbean Securities Exchange (ECSE), the first regional securities exchange in the Caribbean.

Over the last 15 years, the ECSRC has achieved many successes, including the passage of a comprehensive package of legislation to govern the operation of the securities market and the conduct of market participants, the establishment of licensing standards for securities market intermediaries and market disclosure rules which aim to ensure that investors receive timely and accurate information to inform their investment decision-making. The production of this newsletter represents the achievement of another one of the ECSRC’s milestones, as it seeks to fulfill a critical aspect of its mandate which is to protect investors and other participants in the ECSM.

Investors who are uninformed are at higher risk for becoming the victims of investment fraud and there are many cases both regionally and internationally where persons have been defrauded by the operators of unscrupulous investment schemes. As the ECSRC cannot on its own avert all incidents of securities fraud in the ECSM, we hope that by educating and informing investors, this would enhance their knowledge and financial capability, reduce the incidents of fraud and achieve an overall change in attitudes towards investing and investments throughout the ECCU.

We hope that you enjoy this Anniversary issue of your ECSRC Newsletter!

Sir Errol N Allen