Trinidad and Tobago, Jamaica discuss strengthening regional securities regulation

JAMAICA'S Financial Services Commission (FSC) wants to strengthen ties with key regional counterparts, including Trinidad and Tobago's Securities Exchange Commission (SEC).

To this end, FSC executive director Lt Col Keron Burrell hosted a meet-and-greet event with SEC CEO Kester Guy in Jamaica on January 24.

The meeting was held at the FSC headquarters in New Kingston.

An SEC press release on February 18 said discussions centred on strengthening regional collaboration in securities regulation and capital markets development. Burrell and Guy gave a commitment to working more closely to advance shared priorities, including exploring avenues to harmonise regulatory approaches and foster greater market integration and development across the Caribbean through policy development and standard-setting.

They also discussed the FSC’s strategic plans to enhance regional capacity during that commission's tenure as chair of the Caribbean Group of Securities Regulators (CGSR).

Insights were shared on Jamaica’s ongoing transition to the Twin Peaks regulatory model, which positions its FSC to prioritise market conduct and consumer protection.

Updates were also provided on Jamaica’s Virtual Assets Services Providers (VASPs) legislative framework and technical guidance was offered to TT in building out its VASP framework.

Burrell, the release said, noted the importance of the development of united positions among regional regulators to strengthen investor confidence, enhance market stability and promote sustainable growth in regional securities markets.

Guy commended the FSC for its leadership and collaborative efforts, particularly in championing innovative regulatory frameworks such as the Twin Peaks model and VASPs regulation.

The next annual meeting of the CGSR is scheduled for July.