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

SECURITIES INDUSTRY
[CH.363 – 26C
(b) a subject matter specified by the Commission,
being a person whom, or a subject matter which,
is the subject of the inquiries being carried out
by or on behalf of an overseas regulatory
authority or the Commission.
(3) No person shall be bound to comply with a
requirement imposed by a person exercising powers by
virtue of an authority granted under this section unless he
has, if required, produced evidence of his authority.
(4) Where the Commission seeks assistance or
grants an authority under subsection (1), the assistance or
authority shall be provided or executed in such manner as
the Commission may determine; and where the
Commission grants such an authority to a person, he shall
make a report to the Commission in such manner as the
Commission may require, on the exercise of that authority
and the results of exercising it.
35. (1) Where a dispute has arisen out of or in
connection with any dealings in a listed security between
any person regulated by the Commission or by a Securities
Exchange and another party and that dispute has been
settled between the parties, the person so regulated shall,
within twenty-one days after the settlement has been
effected provide to the Commission a written report of the
dispute together with copies of all documentation relating
to the settlement.
(2) The Commission shall as soon as practicable
after receipt of the said report consider the matter and may
either make a finding as to whether or not a violation of
any provision of this Act or of any regulations or rules
made thereunder has occurred or require that a regulatory
hearing be held to so determine.
(3) In either case, should the Commission decide
that a violation has occurred, it may dismiss the matter or
impose one or more of the sanctions or remedies specified
in section 33(b) as it deems fit.
36. Except where the Commission had made an order
or ruling in the terms of section 33(b)(v) and (vi), where
any person or entity against whom a decision has been
rendered has not fully complied with the terms of such
decision within the prescribed time, that person or entity
shall be in contempt of the Commission, and shall have its
registration, licence or approval suspended until further
order of the Commission.
Sanctions and
remedies.
Compliance with
decisions of the
Commission.
LRO 1/2008
STATUTE LAW OF THE BAHAMAS