Posted on Monday, May 13th, 2019
The Bahamas International Securities Exchange is seeking the consultation of the Bahamian capital markets including Issuers, Brokers, Financial Services Providers and the general public on the proposed rules amendments. These amendments are designed to among other things:
- remove ambiguity regarding the process of application of the Rules;
- ensure consistency between the BISX Rules and the Securities Industry Act;
- reduce the costs of publication of disclosures; and
- clarify regulatory remedies available to the Exchange.
The amendments are divided into 4 parts, namely:
Part 1: Trading Rules Amendments
Part 1 speaks to Trading Rules, which are found in Section 4 of the BISX Rules. These amendments address technical trading issues related to the dissemination of trading information by the Exchange.
Part 2: Listing Rules Amendments
Part 2 speaks to Listing Rules, these amendments seek to clarify the regulatory options of the Exchange with regards to penalties. Additionally, there are amendments that allow the Exchange’s experience with company communications to more closely resemble those of other shareholders.
Part 3: Issuer’s Continuing Obligations Amendments
Part 3 speaks to Issuer Continuing Obligations Amendments, these amendments seek to offer issuers more options for publication of information, and to remove ambiguity regarding methods of disclosure.
Part 4: BISX Fee Schedule Amendments
Part 4 speaks to Proposed Fee amendments. These amendments are designed to be consistent with the proposed rule changes, and to achieve the aims identified in the 3 Parts above.
The new rules will be posted for a period of 30 days where persons will be able to access the information, review it and comment accordingly.
All BISX Rules are approved by the BISX Board of Directors, then disseminated to the wider industry for consultation and, finally reviewed and approved by the Securities Commission of The Bahamas.
Feedback to the proposed rules and fee amendments should be sent to email@example.com