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BCSDI Custodian Trust Services Inc. (BCTSI) was incorporated in Barbados on January 28, 2021 and is the wholly owned subsidiary of the BCSDI. It was established to consistently deliver cost-effective and dependable custodian and trustee services to members of the financial services industry.
Through the Manager – Trust & Fund Services, the affairs of the BCTSI are administered by a Board of Directors which is separate and distinct from those of the BSE and the BCSDI. In accordance with its By-laws, the Board of the BCTSI consists of a minimum of one (1) Director and a maximum of nine (9) Directors headed by the current Chairman of the BSE Group. The Chairman is joined by the present Managing Director of the BSE Group, as well as the group’s Deputy General Manager – Operations.
Overview of Services
As one of the critical players in the local financial services landscape, the BCTSI’s role as Custodian and Trustee for various investment arrangements, is to enhance the functioning of the capital markets while strengthening investor protection. The BCTSI provides complementary services to the Barbados Central Securities Depository Inc. as well as those public, private and government organizations raising capital or offering investment products in the local capital market.
Bond Trustee Services
A Bond Trustee is a trusted and highly regulated third-party entity that plays a vital role in monitoring and managing a government or corporate issuer’s compliance with the terms of the bond issue and ensures that the interest and principal payments are made as planned. The Bond Trustee also safeguards the interests of the bondholders in events of default.
Insurance Reserve Fund Trustee Services
An Insurance Statutory Fund Trustee is a highly regulated company that operates under license to act, in conjunction with the Financial Services Commission (FSC), in a fiduciary capacity ensuring the safety of assets, the administration, monitoring, reporting and holding title to the insurance fund assets for the benefit of the Insurance Company’s policy holders.
Mutual Fund Custodian Services
A Mutual Fund Custodian is a highly regulated institution which plays a crucial role in ensuring regulatory compliance and investor protection in the safekeeping of the mutual fund assets, mitigation of risk of loss, theft or error in respect of the ownership of assets.
Delisted Shares and Dividends Trust Services
If a company decides to wind-up, restructure, or de-list its shares from the Stock Exchange, a Trustee is required for making final distributions and managing unclaimed dividends and other payments to investors. The BCTSI partners with these companies and the FSC to ensure that shareholders’ monies are accessible to them after the corporate action is completed.
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