The Trinidad and Tobago Securities and Exchange Commission will continuously evolve and adapt to meet the ever-changing needs of the financial sector, chief executive officer Lystra Lucillio has said.
Lucillio made the statement as she delivered the closing remarks at the ninth United States Securities and Exchange Commission (US SEC) Technical Assistance Programme, for financial sector regulators in the Caribbean yesterday.
The TTSEC hosted the programme, which was conducted virtually over a non-consecutive eight-day period which started on October 19.
“Through this programme, we have created opportunities for increased information-sharing among regulators, from legislative amendments and financial technologies to enhancing our enforcement procedures and adequately addressing investment fraud. We have encouraged cross-jurisdictional participation and involvement, of which we are certain will continue going forward,” Lucillio stated.
“As we adjust to a technologically progressive environment, we recognize that within the region we may have our regulatory and jurisdictional challenges, but through ongoing training, collaboration and discussions with our Regional and International regulators, we will continuously evolve and adapt to meet the ever-changing needs of our securities industries and financial sectors,” she stated.
The TTSEC-US SEC collaboration on training and development dates back to 2006, when specialised training opportunities were offered for regulators within the financial services industry in the Caribbean.
“This collaboration has been a long-standing tradition and, on each occasion, it has positively contributed to enriching our people as we develop and safeguard our financial sectors,” Lucillio stated
At this year’s programme, there was participation from several Caribbean Group of Securities Regulators (CGSR) member countries, including: the Barbados Financial Services Commission, Bermuda Monetary Authority, BVI Financial Services Commission, Eastern Caribbean Securities Regulatory Commission; and locally, the Financial Intelligence Unit, Trinidad and Tobago Stock Exchange Limited, Trinidad and Tobago Police Service’s – Financial Investigations Branch and the Fraud Squad and Staff of the TTSEC.
“We are particularly pleased with this established partnership with the US SEC and we look forward to many more such collaborations, where we can allow for involvement from our regional counterparts and further development of the financial capabilities within the Caribbean,” Lucillio stated.