Market Conduct - What is expected from Registrants?

Market Conduct - What is expected from Registrants?

We are already into the second month of the year, and persons may at this time be implementing their financial goals. One way to reach those financial goals may be through investing in equities, debt securities (such as bonds) and mutual funds. This week, we focus on the types of market conduct that any prospective investor should expect from persons who are conducting securities-related business in Trinidad and Tobago. 

First, any person or entity that seeks to conduct securities-related business (investing) on your behalf must be registered (i.e. a registrant) with the Trinidad and Tobago Securities Exchange Commission (“TTSEC”) pursuant to section 51 of the Securities Act, 2012 as amended (“SA 2012”). For the purposes of this article, whenever we refer to a registrant it’s one registered under section 51(1) of the SA 2012. The prescribed registrant categories include: 

1. Broker-Dealer; 
2. Investment Adviser; 
3. Underwriter; 
4. Registered Representative; 
5. Sponsored Broker-Dealer; and 
6. Sponsored Investment Adviser. 

A person seeking to invest will likely speak to a Broker-Dealer (a person who conducts securities transactions on behalf of others, primarily clients, or his own account) or an Investment Adviser (a person engaging in, or holding himself out as engaging in, the business of providing investment advice). 

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