Harmonizing Caribbean Securities Laws -- Approach for Achieving Convergence

The Caribbean Community Council for Finance and Planning (COFAP) at its Twelfth meeting held in March 2008, decided that a major element of the integration programme for capital markets should be the formulation of a uniform securities law for adoption by Member States. At the meeting of COFAP, the adoption of a uniform securities law was viewed as one of the measures to further the development and integration of the capital markets in the Community in accordance with the Revised Treaty of Chaguaramas. This paper suggests a more pragmatic approach to achieving convergence of the securities laws, one based on the adoption of minimum standards by the Member States