The Tribune

The Securities Commission yesterday announced its top executive has been elected as vice-chair for a global supervisory organisation’s regional body.

Christina Rolle, the Bahamian regulator’s executive director, was named vice-chair for the Inter-American Regional Committee (IARC) of the International Organisation of Securities Commissions (IOSCO).

She will hold the post for the 2020-2022 term. As a result of being elected, Ms Rolle will also hold a seat on the IOSCO Board for the same period of time.

K Peter Turnquest, deputy prime minister, hailed Ms Rolle’s election by saying: “This is a notable accomplishment not only for the Securities Commission, but for the Bahamian financial services industry overall.

“The Bahamas has been working meticulously to change the global narrative about our financial services industry to more accurately depict this jurisdiction as highly professional, experts in the things we do, embracing of international best practices and standards as well as global initiatives to fight financial crimes.

“I congratulate Ms Rolle, and the commission, and wish them success in representing the industry in the coming years.”

Robert V Lotmore, the Securities Commission’s chairman, said: “Ms Rolle’s election is a testimony to the international relationships she has built, as well as the commission’s continuous engagement with IOSCO over the past few years.

“This is a notable milestone for the commission and an indicator of our commitment to not only be an adopter of international policy but to significantly contribute to the shaping of global regulatory policy as a leading jurisdiction for financial services.”

The Securities Commission was among the first regulators to become an “A.1” signatory to IOSCO’s current information sharing arrangement on 21 November, 2018, together with seven other national supervisors.

The Bahamian regulator has also deepened its involvement in IOSCO’s technical work, with successful nominations to IOSCO’s committee three on regulation of market intermediaries; committee four on enforcement and the exchange of information; the MMoU screening group; and the assessment committee.

The Securities Commission has also engaged in the work of IOSCO’s largest committee, the growth and emerging markets committee (GEMC), related to digitisation in the capital markets and corporate governance.

Ms Rolle said: “While the election is in a personal capacity, it is indeed an honour for the entire Securities Commission of The Bahamas, and even the jurisdiction, to be supported by our peers. I look forward to the new role and working even more closely with the secretary-general and Board of IOSCO.

“The Bahamas is unique in that we bring the perspective of a small island developing state and this election, along with the consequential IOSCO Board representation, will enable us to forward the points of view of similar jurisdictions with comparable priorities and challenges.”

The Inter-American Regional Committee (IARC) is one of four IOSCO regional committees, comprising 27 member securities regulators from North, Central and South America, and the Caribbean, as well as four associate members representing the International Monetary Fund (IMF), the International Bank for Reconstruction and Development, and two additional Americas securities regulators.

IARC provides a forum for members to discuss the application of IOSCO policy initiatives and their approaches to address regulatory challenges, and to share regulatory experiences.