Securities Industry Act - The Bahamas Laws On-Line - The ...

SECURITIES INDUSTRY [CH.363 – 25
(iii) disgorgement of profits or other unjust
enrichment plus a penalty not to exceed
twice the amount of such profits or unjust
enrichment;
(iv) restitution;
(v) suspension of licence, registration or approval;
(vi) revocation of licence, registration or approval;
or
(vii) any other sanctions or remedies as the
justice of the case may require;
(c) to establish and promulgate procedures to be
used in carrying out any of the functions
conferred by this section upon the Commission.
34. (1) In carrying out an investigation under this
Part, the Executive Director is empowered to require the
production of any document or other information he
deems relevant to the investigation.
(2) In carrying out his functions under this Part, the
Executive Director is empowered to summon witnesses to
give evidence or produce any documents or other materials
to enable him to carry out his investigation subject to the
right of either the Executive Director or the witness to
apply to the Supreme Court for an order compelling the
co-operation of the witness or excusing the witness from
complying with the summons, as the case may be.
(3) To assist the Commission and the Executive
Director in carrying out the functions hereby required, the
Commission shall establish a Disciplinary Committee
comprising five persons including not more than two
persons who are members of the Commission.
(4) Upon completion of his investigation, the Executive
Director shall report his findings to the Disciplinary
Committee for any appropriate action and the Disciplinary
Committee may recommend to the Commission —
(a) dismissal of the matter;
(b) the issue of a letter of caution or some other
informal remedial action;
(c) the filing of a formal complaint and proceeding
with a regulatory hearing before the Commission;
or
Investigation.
LRO 1/2008
STATUTE LAW OF THE BAHAMAS