CMAEC has established many types of self-regulatory rules to be applied to Association Members to enhance fair and smooth execution of the financial instruments business in order to promote the efficient administration of securities markets.
The major rules cover OTC transaction of stocks and bonds, underwriting of securities, off-exchange transaction of listed stocks and others, foreign securities transactions, safe custody of securities, business conduct of officers and employees, internal administration systems, qualification and registration of sales representatives, advertisements, investment solicitation and customer administration, financial instruments agency business, segregated custody of customers’ assets, treatment of disputes with customers and unified accounting standards, etc. of Regular Members.
CMAEC conducts on-site inspections in relation to internal administration system and compliance with the statutory laws and regulations and/or self-regulatory rules concerning the business activities of Association Members. CMAEC also monitors the business conditions and segregated custody of customers’ assets of Regular Members.
In cases of violation of statutory laws and regulations and/or CMAEC’s self-regulatory rules by Association Members and/or their officers and employees, CMAEC strictly enforces self-regulatory disciplinary actions in order to avoid the recurrence of such violations.
CMAEC provides counseling services relating to customers’ complaints concerning the business of Association Members and financial instruments agents, and also provides mediation services under the FIEL to settle disputes over securities transactions, etc. between Association Members and their customers.
CMAEC is engaged in necessary system reforms to make the system for transactions of listed stocks outside the financial instruments market of an exchange more fair and efficient and to ensure investor protection.
To build a financial instruments market capable of gaining the highest confidence of investors and to contribute to Eastern Caribbean’s economic growth and development, CMAEC is carrying out research projects and studies about system and taxation issues on financial instruments businesses and markets, and presenting proposals to the government and other related parties toward the realization of the results of those investigations. One of the main issues that CMAEC is advocating is more desirable taxation systems for financial and securities transactions.
To improve investor confidence in and vitalize the securities market, CMAEC is engaged in the establishment of common infrastructure such as systems in the securities market.
CMAEC promotes the dissemination of knowledge, understanding and public awareness of financial instruments and financial indices as well as financial instruments markets within each class of Eastern Caribbean.
CMAEC promotes various policy measures by maintaining good liaison between Association Members and other related organizations and mediating various opinions.
To improve the proficiency of officers and employees of Association Members, CMAEC executes various educational training programs including statutory training and supports the dispatch of lecturers to in-house training courses held by Association Members.
To cope with the globalization of financial and capital markets, CMAEC participates in international conferences such as the International Council of Securities Associations (ICSA), the Asia Securities Forum (ASF), and the International Organization of Securities Commissions (IOSCO), and also conducts exchanges of information and builds relationships with overseas securities industry related associations etc. In addition, CMAEC promotes the Eastern Caribbean market abroad, responds to overseas inquiries and collects relevant information.
