The Role of Compliance and Inspections in Enforcing the Securities Law

The Securities Act, Chapter 83:02 (SA), provides the Trinidad and Tobago Securities and Exchange Commission (TTSEC) with the power to take enforcement action against any registrant for failing to comply with the SA. Where, during the course of a compliance review (or inspection) in accordance with section 89 of the SA, a registrant is found to be in contravention of (or contravening) the relevant legislation, the matter may be referred for enforcement action. Under Section 7 (1) (h) and (j), of the SA, the TTSEC has the power to take “enforcement action against any person for failing to comply with the Act”; and to “formulate, prepare and publish notices, guidelines, bulletins and policies describing the views of the Commission regarding the interpretation, application, or enforcement of this Act”.

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The Investment Process

As we continue our focus on competent investment management, this week’s article considers the investment process, that is, the sequence of steps involved in constructing and implementing a portfolio in order to achieve the investor’s goals; whether that be wealth maximisation or income generation. Quite often individual securities are purchased without considering the process behind the investment decision.According to the European Commission, “sustainable finance refers to the

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Sustainable Finance and Regulatory Expectations

In the wake of the COVID-19 pandemic, governments are discussing how to rebuild their economies. It should be noted that the pandemic has not stopped the climate emergency and it will not prevent the risks from extreme weather events as well as other climate-related shocks that threaten us now and in the future. This article discusses what can be expected from a securities regulator for sustainable finance development.

According to the European Commission, “sustainable finance refers to the

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Protecting the Integrity of the Securities Market

Trinidad and Tobago Securities and Exchange Commission

A key responsibility of the Trinidad and Tobago Securities and Exchange Commission (TTSEC), under the Securities Act Chapter 83:02 (SA), is to protect the integrity of the securities market against any abuses arising from market manipulating practices, insider trading, conflicts of interest and other unfair and improper practices. This is accomplished through a variety of ways, with one of the most important being through the registration of market participants.

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Offerings of Cryptocurrencies

Offerings of Cryptocurrencies:

Some considerations for the securities sector

Further to the issuance of the first cryptocurrency1 (‘Bitcoin’) in 2009, the number of cryptocurrencies in existence has grown to 6,500 cryptocurrencies as at September 16, 20212.

Amidst the rise in the growth of cryptocurrencies, there is still much debate among regulatory bodies and governments as to the classification and formulation of appropriate frameworks to govern not only the existence of cryptocurrencies, but that of the Exchanges/Networks on which they are traded.

These debates are complicated by the fact that cryptocurrencies combine the properties of electronic payment systems, currencies, commodities3 and/or securities. A commodity here refers to a basic good used in commerce that is interchangeable with other goods of the same type. When they are traded on an exchange, commodities must also meet specified minimum standards.4 Further, the transnational and virtual nature of transacting in cryptocurrencies create opportunities for regulatory arbitrage and limit law enforcement actions where coordinated policy decisions have not been made.

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INVESTMENT EDUCATION