Non-bank regulation revamp

BARBADOS-BASED financial institutions that are not banks will be under increased monitoring by the Financial Services Commission (FSC).

FSC chairman Oliver Jordan expects this to enable the institution to be increasingly nimble and responsive with its regulation.

He gave the update during the 2024 Barbados Risk and Insurance Management conference, which was held at Hilton Barbados Resort by BIBA, the Association for Global Business.

The chairman also noted that “the improved functionality of the regulatory department will also enhance our ability to supervise consolidated and group risk exposures”. (SC)

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