GCCI welcomes move by Govt to review Securities Industry Act 1998

GCCI President Kester Hutson

See full statement from the Georgetown Chamber of Commerce and Industry (GCCI):

The Georgetown Chamber of Commerce and Industry (GCCI) welcomes the recent announcement by Attorney General and Minister of Legal Affairs, the Honourable Anil Nandalall of a directive from the President, His Excellency Dr. Irfaan Ali, instructing for a review of the Securities Industry Act 1998, with the aim of modernizing this legislation which regulates the growth of efficient securities markets and encourages capital formation.

The GCCI is encouraged at the announcement that the government has already begun engaging with necessary experts to carry out this undertaking. Over the years, the GCCI has consistently been a leading advocate for the modernizing of the local securities market and stock exchange, continuously lobbying for a dynamic and competitive financial environment in Guyana that will benefit businesses, investors, and the economy as a whole.

By undertaking this review of the Securities Industry Act 1998, the government is demonstrating its dedication to fostering a more efficient securities market that will foster growth and better align with Guyana’s economic trajectory.

The GCCI looks forward to continuing to work with the government and relevant stakeholders to further enhance the regulatory framework and ensure the evolution of a transparent and secure securities market that fosters development.