Please be advised that at the EGM for BOB held July 14, 2016 no directors were nominated and therefore no directors were appointed.
The Bahamas International Securities Exchange (BISX) spent the Morning of Wednesday 26th October 2016 with students from the Corporate Governance class of The College of The Bahamas’s (COB) LL.B. Programme. Speaking to the students was BISX Chief Executive Officer, Keith Davies and Chief Operating Officer, Holland Grant. This small and relaxed session with a small grouping allowed students to ask questions directly to senior Exchange Officials.
BISX Chief Executive, Keith Davies commented on the visit: “Firstly I would like to thank Ms. Lisa Benjamin for having contacted BISX to arrange the session, as a former COB student, I know that I owe so much of what I have been able to accomplish to the hard work of my lecturers.As a lawyer, I’m also always enthused for an opportunity to meet with the next generation of legal professionals.”
During the speaking session, the BISX executives spoke about the Exchange as well as giving information regarding securities law, the listing of securities on the Exchange and the trading of securities once listed.Mr. Davies also took time to speak about the regulation of companies by the Exchange. He noted “These young lawyers in training will be the generation that writes the next iteration of the BISX Rules and the Securities Industry Act, so its important to ensure that they are familiar with what went into previous versions of these documents.”
Lisa Benjamin commented, “I was so impressed with the time spent by the Executive Officers at BISX with my students. The students thoroughly enjoyed the experience as did I. To have students learn about the Exchange directly from the operators of it was invaluable. Students were able to hear about the direct application of corporate governance principles, including the role of directors’ duties, to the operation of the Exchange from both Mr. Davies and Mr. Grant. This application of theoretical principles to real world scenarios brings alive the issues we discuss in class. “
Student of Corporate Governance, Gabriel Brown, noted, “I thoroughly enjoyed our trip to The Bahamas International Securities Exchange. The session was truly an engaging, interactive and highly informative one. Mr. Keith Davies and Mr. Holland Grant, along with their staff, warmly welcomed us into their office and sought to educate us in regard to the “ins and outs” of their business. We were informed about the history of the Exchange up to the current day to day running, and even about possible future enterprises. I can say that I acquired a vast amount of information in such a short session and would advise others to take the time out to learn more about our very own Bahamian International Securities Exchange.”
Speaking about the session BISX Chief Operating Officer, Holland Grant noted: “It was a pleasure speaking to the students from the COB LL.B. Programme. BISX has a long history with the College, both Keith and I are former students, and I donate time to the College as a part time lecturer, and Keith is a frequent speaker to my class. We see this donation of time as one of the best ways to invest in those persons that will become our future employees, future investors and future business partners.”
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FOR IMMEDIATE PUBLICATION – Friday, 9 December 2016
The Bahamas International Securities Exchange (BISX) spent Thursday, 1 December 2016 in a closed session conclave with its Listed Issuers. The purpose of the BISX 2016 Listed Issuer Conclave was to meet with senior representatives of Listed Issuers to discuss their duties and responsibilities to the market, as well as to discuss the fundamental regulatory principles and overall mission of the Exchange. The meeting was specifically limited to senior representatives to ensure that all participants were individuals who were tasked with compliance with BISX’s Rules.
BISX Chief Executive, Keith Davies commented on the Conclave: “The Exchange communicates and meets with its Issuers one-on-one on a regular basis, however our reasoning behind this Conclave was to bring as many of our Issuers as possible into one room at the same time. The goal being, of course, to facilitate the exchange of ideas and information not just from the Exchange to its Issuers, but also from the Issuers with each other. The attendance at our meeting was outstanding and it was good to receive the overwhelming positive feedback from our Listed Issuers regarding their participation and depth of learning.”
The Conclave featured four modules intended to provide issuers with the principles regarding how the Exchange’s rules were enforced and more importantly, why the rules are in place. The purpose of each module was to provide issuers with a deeper understanding of the Exchange’s regulatory regime. The Modules were:
– Listing on BISX – This session was presented by BISX Chief Operating Officer, Holland Grant, who identified the guiding principles of these BISX Rules as: Capital Formation, Market Development and Suitability.
– Issuer’s Continuing Obligations – This session was presented by BISX CEO, Keith Davies, who identified the guiding principles of these BISX Rules as: Transparency, Confidence and Security.
– Trading on BISX – This session was presented by Mr. Davies and Mr. Grant jointly, the guiding principles identified for this session were: Transparency, Price Discovery and Equitable Access.
– Corporate Governance – This session was presented by Miss Odecca Gibson from the Securities Commission of The Bahamas, who spoke about the existing Corporate Governance Framework in Bahamian law, International Standards related to Corporate Governance, as well as considerations for Company’s Boards and Senior Management.
Speaking of the Conclave, Mr. Lyrone Burrows President of Famguard Corporation stated, “I was delighted to have been a participant at the 1st BISX Listed Issuer Conclave. The session brought further clarity to the roles and obligations of all stakeholders associated with the local capital markets and provided the opportunity for listed issuers to interact with executives of the exchange in a less formal setting. I definitely look forward to future sessions of this nature. Great job BISX!”
Mr. Hans Neven Managing Director of Commonwealth Brewery commented “I found the session very informative and professionally conducted. It’s clear BISX has taken steps to make itself more user-friendly and accessible. I believe BISX is well on its way to achieving global standards and continued growth”
BISX was also pleased to welcome the Securities Commission of The Bahamas (the “SCB”) to speak on Corporate Governance and for participating in the Conclave through their Market Surveillance Department. Mr. Davies noted “We are grateful to the Commission’s Executive Director Ms. Christina Rolle for agreeing to participate in this conclave. We wish to thank Ms. Odecca Gibson for speaking on Corporate Governance and Ms. Sandra Duncombe and her Market Surveillance team for participating as well. The relationship between BISX and the Securities Commission is a necessary strong pillar to the effective regulation of the Bahamian capital markets and we look forward to many more collaborations of this nature.”
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