Divisional Profiles

Division of Disclosure Registration and Corporate Finance

The Securities Industry Act 1995 (“the Act”) entrusts the Commission with the responsibility to ensure that the requirements of Section 65 (1) of the Act  are duly executed and that “no security shall be offered to the public or listed with any self-regulatory organization unless it is registered with the Commission”.

This office ensures the registration of all self regulatory organizations, securities companies, brokers, dealers, traders, underwriters, issuers and investment advisers as well as the securities that they provide and routinely:

• Reviews and processes applications of market actors and reporting issuers;
• Reviews documentation to ensure compliance with the law and best practice
• Approves the contents of prospectuses, offering circulars or any form of solicitation, advertisement or announcement by which securities are offered for sale to the public;
• Reviews filings by all registrants and assesses among other things the financial solvency of registrants
• Maintains a register of securities approved by the Commission
• Makes recommendations to the Commission for the suspension/revocation of registration when persons no longer satisfy the registration requirements
• Identifies trends and issues that are likely to have an impact on the securities industry and makes appropriate policy recommendations

Division of Market Regulation and Surveillance

This office’s purpose is to monitor the local capital market with a view to assuring compliance with the Securities Industry Act, 1995, its by laws, and relevant provisions of the Companies Act, 1995.  The office:

• Maintains surveillance over the local, regional and international financial sector, especially in the securities market
• Ensures that market participants comply with their continuous disclosure obligations  and reviews compliance with prudential and reporting standards
• Directs inquiries into suspected illegal market manipulation and/or brokerage activities.
• Monitors the operations of all Self-Regulatory Organisations licensed or registered by the Trinidad and Tobago Securities and Exchange Commission to determine their compliance with the applicable Acts and Rules that govern their participation in the Trinidad and Tobago capital markets
• Investigates customer complaints against registered market actors

Division of Legal Advisory and Enforcement

This office's key functions include a focus on the corporate strategic and tactical legal initiatives as well as the management of the Commission’s legal function.
The General Counsel:

• Provides continuing counsel and guidance on legal matters and on legal implications of all matters.
• Serves as key lawyer/legal advisor on all major business transactions, including acquisitions, divestitures and joint ventures.
• Decides on selection, retention, management and evaluation of all external counsel
• Organises and manages the company’s internal legal function and staff.
• Assumes ultimate responsibility for ensuring that the Commission conducts its business in compliance with applicable laws and regulations.