he International Monetary Fund, IMF, sees no systemic impact arising from the alleged fraud at Stocks & Securities Limited.

“The fraud highlighted weak risk management practices in the company – SSL – which holds assets of about US$120 million, or 0.8 per cent of the assets of the non-bank financial system. The alleged fraud reportedly amounts to US$6 million to US$19 million. It has had no systemic impact,” according to the statement on subsequent events on Jamaica in the IMF Staff Report for 2022 —Article IV Consultation on Jamaica.

he International Monetary Fund, IMF, sees no systemic impact arising from the alleged fraud at Stocks & Securities Limited.

“The fraud highlighted weak risk management practices in the company – SSL – which holds assets of about US$120 million, or 0.8 per cent of the assets of the non-bank financial system. The alleged fraud reportedly amounts to US$6 million to US$19 million. It has had no systemic impact,” according to the statement on subsequent events on Jamaica in the IMF Staff Report for 2022 —Article IV Consultation on Jamaica.

he International Monetary Fund, IMF, sees no systemic impact arising from the alleged fraud at Stocks & Securities Limited.

“The fraud highlighted weak risk management practices in the company – SSL – which holds assets of about US$120 million, or 0.8 per cent of the assets of the non-bank financial system. The alleged fraud reportedly amounts to US$6 million to US$19 million. It has had no systemic impact,” according to the statement on subsequent events on Jamaica in the IMF Staff Report for 2022 —Article IV Consultation on Jamaica.

https://jamaica-gleaner.com/article/business/20230217/imf-provide-technical-support-twin-peaks-says-ssl-impact-limited#.Y-9y2el4RQc.mailto