Common CARICOM take over policy in the works

Regional securities regulators have come together to develop a takeover code for cross-border mergers and acquisitions within the Caribbean Community (CARICOM).

The Chairperson of the of the Trinidad and Tobago Securities Exchange Commission (TTSEC), Ms. Deborah Thomas-Felix said at a regulators roundtable during the Trinidad and Tobago Unit Trust Corporation’s recent Inaugural Investor Conference, that regional regulators were close to developing the common code and choice of law rules, which were now in the final stages of development.

Thomas-Felix stressed that effective regulators, need to be knowledgeable about new and complex structured products, and should be provided with the much need resources to conduct effective surveillance and monitoring of the market.

Regulatory bodies across the board, she said, had generally been funded by the tax payer, and consequently had always competed, albeit unsuccessfully, for the best talent in the world of finance.

“Commissions such as the TTSEC must continue to be staffed with experienced and well qualified experts who are adequately remunerated.