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Review Due Of TCI Financial Regulator

by Mike Godfrey, Lowtax.net, Washington
08 January, 2015

A comprehensive review of the Turks and Caicos Islands' financial services regulator is to take place this month, according to the Governor of the Turks and Caicos Islands.

The review was announced last month by the TCI Governor Peter Beckingham, who is the UK's appointed representative in the territory. It will seek to ensure the regulator is effectively regulating financial services firms and that its operations offer good value for money.

The review will also cover the fees charged by the regulator and will present recommendations on how its operations can be strengthened.

The announcement follows earlier intervention by the UK Government into the territory's affairs in 2009, on corruption concerns, which led to UK officials supporting a number of reforms, including on tax policy.

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