Turks and Caicos Islands: Assessment of the Supervision and Regulation of the Financial Sector—Review of Financial Sector Regulation and Supervision

Publication Date:

January 26, 2005

Electronic Access:

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Summary:

This paper reviews Financial Sector Regulation and Supervision for Turks and Caicos Islands (TCI). The TCI has a structure for financial supervision that encompasses banking, insurance, mutual funds, investment brokers, trusts, trustees, companies’ registration, and company service providers. The supervisory framework has undergone major modifications since 2000, but further strengthening of the legal and institutional framework is needed. The Financial Services Commission has been transformed into a statutory body and given additional autonomous powers for supervision. Underlying financial ordinances have been amended to bring them more in line with international standards.

Series:

Country Report No. 2005/024

Subject:

English

Publication Date:

January 26, 2005

ISBN/ISSN:

9781451836349/1934-7685

Stock No:

1TCAEA2005001

Pages:

59

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