Revocation of Broker-Dealer Licence: FirstCaribbean International Trust and Merchant Bank (Barbados) Ltd

Author: A Daniel    |    Thu, Aug 16th,2018


The public is hereby notified that effective 13 August 2018, the Eastern Caribbean Securities Regulatory Commission (ECSRC) revoked the Broker-Dealer Licence (No. BB-BD-0001-09) of FirstCaribbean International Trust and Merchant Bank (Barbados) Limited. This decision was taken at the company’s request as it ceased to hold itself out as carrying on the business of a licensed broker-dealer in the Eastern Caribbean Securities Market (ECSM).

 

The Commission’s approval of the revocation of the company’s licence was taken under the authority provided in section 65(2) of the Securities Act of Anguilla Chapter S13 of Anguilla and section 66(2) of the Securities Act, Securities Act No. 14 of 2001 of Antigua and Barbuda; Securities Act No. 21 of 2001 of the Commonwealth of Dominica, Securities Act No. 23 of 2001 of Grenada; Securities Act Chapter 11.01 of Montserrat, Securities Act Chapter 21.16 of St Kitts and Nevis; Securities Act Chapter 12.18 of St Lucia; and Securities Act Chapter 261 of St Vincent and The Grenadines, which states:

 

            “The Commission may revoke a licence granted to a company under this Part if-

            ……..(c) the company ceases to carry on the business for which it is licensed”

 

Accordingly, the Broker-Dealer Licence for FirstCaribbean International Trust and Merchant Bank (Barbados) Ltd is cancelled and can no longer be used to transact securities business within the ECSM.