The Houses of Parliament in Grenada have given the Eastern Caribbean Central Bank (ECCB) permission to create an OECS Securities Exchange (ECSE). According to Grenada Today, Grenada is the last member of the OECS territories to have passed an enabling Securities Bill but it will not come into effect and allow trading to begin until at least five of the OECS members have ratified their Bills, which is expected to be before the end of this year.
General Manager of the Eastern Caribbean Securities Exchange Mr Baljit Vohra says the Bills give legal effect to the Eastern Caribbean Securities Regulatory Commission (ECSRC), which was established in March/April 2001. With the passage of the Bills, the ECSRC will acquire regulatory powers to ensure that market participants in the 8 OECS members comply with the Securities Acts and accompanying regulations.
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