Securities and Investment Board Ltd (SIB)

The agency set up under the Financial Services Act 1986 to ensure that those who are engaged in investment business (including dealing in, arranging deals in, and managing investments and also giving investment advice) are honest, competent, and solvent. It is an offence, unless exempt, to carry on investment business without SIB authorization (which may be obtained directly or via membership of a recognized *self-regulatory organization or professional body). Those in contravention may be unable to enforce transactions, and investors who suffer loss may be entitled to compensation. The composition of the Board must reflect a proper balance between the interests of those who carry on investment business and the interests of the public.