AS Guyana establishes its presence as a rising contender on the global financial stage, Dr. Ashni Singh, Senior Minister in the Office of the President with Responsibility for Finance, has highlighted the imperative of modernising the nation’s securities framework.
Speaking at the 2nd Annual Regional Investments and Capital Markets Conference in Georgetown, Minister Singh reaffirmed the People’s Progressive Party Civic (PPP/C)-led government’s commitment to updating the systems that regulate securities transactions.

While addressing stakeholders on the second day of the conference, Dr. Singh noted that the newly appointed board of the Guyana Securities Council (GSC) would be key in driving these reforms.
“There is a lot of opportunity for modernisation in the securities architecture in Guyana. This is something that is very much on our radar, and you can certainly anticipate that we’re going to be taking a number of actions to significantly modernise,” he said.

Minister Singh acknowledged the pressing need for reform, highlighting that the country’s securities market requires substantial upgrades to ensure its alignment with global standards.
“We know that it’s urgently needed to significantly modernise the architecture for securities transactions in Guyana,” Dr Singh said.

Earlier this year, the Cabinet appointed a new Board of Directors to the GSC. The new board is chaired by Anil Beharry, with members Leslie Glen, Natasha Vieira, Roopnarine Ramcharitar, and Donald Dyal.
The appointments are set to last for a period of three years, expiring on March 31, 2027.

The Guyana Securities Council, a statutory body established under the Securities Industry Act of 1998, has been tasked with maintaining the integrity of the country’s securities market.
Its key functions include advising the finance minister on securities matters, overseeing the market, and regulating the activities of brokers, dealers, and other market participants.
Since its formation in 2000, the Council has played a critical role in ensuring fair dealings and protecting the market from abuses such as insider trading.

This comes at a time when Council is expected to take a more proactive role in creating the conditions necessary for the orderly growth of Guyana’s capital markets.
With the appointment of the new board, the Council is set to embark on an ambitious agenda aimed at bolstering the securities framework and fostering investor confidence.
The modernisation of Guyana’s securities market is expected to complement the country’s broader economic development, particularly as it continues to attract significant foreign investments in sectors such as oil and gas, infrastructure, and agriculture. A well-regulated and transparent securities market will be essential to mobilising local and international capital for future growth.

Earlier this year, Attorney-General Mohabir Anil Nandlall, S.C., unveiled a comprehensive plan to overhaul the two-decades-old Securities Industry Act.
The stock exchange laws in Guyana are governed by the Securities Industry Act, Cap. 73:04, which provides for the registration of securities brokers and dealers, certain self-regulatory organisations, and certain issuers of securities.
The Guyana Stock Exchange (GSE) is operated by the Guyana Association of Securities Companies and Intermediaries Inc. (GASCI) and is regulated by the Guyana Securities Council.
Nandlall pointed out that this comes as a directive from President Dr. Irfaan Ali, instructing for a review of the Securities Industry Act 1998.

“President Ali has instructed a review of the Securities Council’s Act, and to modernise it, to expand it and to refashion it to meet an expanding competitive and modern commercial and financial environment developing in Guyana,” the Attorney-General said.
Nandlall pointed out that consultations have already begun with experts “whose expertise is widely respected in the region.”

This move is much welcomed by the Georgetown Chamber of Commerce and Industry (GCCI), which has been petitioning for years, given Guyana’s growth.

“Over the years, the GCCI has consistently been a leading advocate for the modernising 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 Chamber had said in a statement.