As a direct result of the steady increase in the number of Listed Issuers and Trading Members the BSX has made a number of significant changes to its Listings & Compliance Department.
Effective immediately James McKirdy's role as Listings Manager has been expanded to that of Listings & Compliance Manager and one new staff member is scheduled to join the team in mid-October.
Ms. Kimberly Meacham, a Bermudian, will assume the role of Compliance Coordinator. In addition to assisting the Department with its burgeoning ongoing Listed Issuer compliance, Ms. Meacham will undertake an entirely new role as Trading Member Compliance Coordinator.
International standard Trading Membership Regulations and an accompanying Code Of Conduct have always governed BSX Trading Members, now the Exchange plans to take this regulatory oversight one step further by initiating regular on site compliance visits to member firms.
BSX CEO, William Woods explains further, "Over the last two years the BSX has seen a dramatic rise in the number of registered Trading Members and Listing Sponsors. In fact, since 1998 the number of new members has risen from seven to twenty two. It is incumbent on the Exchange to ensure that all of these members are in continuous compliance with the rules and guidelines set out in the BSX Trading Membership Regulations. One of Ms. Meacham's key objectives will be to conduct audit visits to each one of our members over the course of the next several months to observe how they are conducting their BSX trading operations."
Ms. Meacham has extensive administration experience in international brokerage and joins the BSX from W P Stewart where she is has worked for the last year as a Trading Administrator. W P Stewart is an international securities brokerage firm which specializes in institutional clients and has offices in the US and Bermuda. Prior to returning to Bermuda Ms. Meecham was with Merrill Lynch, Canada. Ms. Meacham also holds the US National Association of Securities Dealers Series 7 qualification and a BA in Economics from McGill University, Montreal, Canada.
BSX Listings & Compliance Manager, James McKirdy, stated, "The BSX is now an internationally recognized exchange with over 300 listed securities. The Exchange has always taken its role as a market regulator very seriously and in this time of steady growth it is imperative that we continue to monitor our issuers and the market effectively. Over the next several months the Exchange will make a number of further announcements regarding key appointments and initiatives to ensure that we remain the leading regulated securities market in the offshore world."