The supervision on securities exchanges resulted from the enactment of the National Ordinance on the Supervision of Securities Exchanges (N.G. 1998, no. 252) (“NOSSE”). The main objectives of the NOSSE are to protect (potential) investors on the securities exchange. Furthermore, the NOSSE aims to preserve and foster the reputation of the Countries Curacao and Sint Maarten as a sound, transparent, and reputable financial center by exerting effective supervision of the licensed securities exchanges. Exerting effective supervision comprises, among other things, ensuring transparency and business integrity, the proper administrative organization and internal control environment, and the adequate functioning of the securities market and exchange.