Montserrat Passes Legislation To Protect Securities Market

Montserrat has joined with other members of the Eastern Caribbean Central Bank in addressing misconduct in the securities market.

The Montserrat Legislative Assembly recently passed the Securities Bill, which provides protection for investors within the currency union.

The harmonized legislation was spearheaded by the ECCB, and is intended to regulate trading on the Eastern Caribbean Securities Exchange and to protect from fraud.

It also prohibits various types of misconduct such as manipulation, inside trading, front running and other fraudulent and deceptive conduct.

Individuals found guilty of such practices face a 100 thousand dollar fine, while companies could pay up to 300 thousand dollars.