Procedures for the Offer of Securities

Procedures for the Offer of Securities



Please be advised that the legislation hyperlinked on this page is intended to inform its users and is not to replace the legislation passed in the Member Territories of the Eastern Caribbean Currency Union.   Each of the eight Member Territories operates under legislation which, though uniform, is unique to that country. Reference must always be made to the specific legislation of the relevant jurisdiction. Users should also note that some jurisdictions may have incorporated amendments in revised legislation.

 The offer of securities may be subject to registration and/or disclosure requirements. This depends on:

  1. Whether the securities will be offered to the general public or it is determined by the Commission to be a private placement; and
  2. If the issuers of the securities is classified as domestic or foreign.

The securities legislation provides for the disclosure standards; which are set and administered by the ECSRC. In some instances the ECSRC may also be required to determine the regulatory requirements relevant to an issue. The relevant provisions pertaining to disclosure and registration can be found in:

  1. The following sections of the Securities Act 2001:
o   Part VII: Offers of Corporate Securities;
o   Part VIII: Registration of Corporate Issuers; and
o   Part IX: Collective Investment Schemes;
  1. The Securities (Amendment) Act;

  2. The Securities (Advertisement) Regulations;

  3. The Securities (Collective Investment Scheme) Regulations;

  4. The Securities (Prospectus) Regulations;

  5. The Securities (Foreign Securities and Intermediaries) Regulations; and

  6. The Securities (Registration Statement) Rules.

 Prospective issuers are encouraged to contact the ECSRC for guidance where necessary.

All required documents should be submitted to the ECSRC at the following address:

The Secretary
Eastern Caribbean Securities Regulatory Commission
PO Box 1855
St Kitts