from left, President of CAPS, Nicolette Jenez, Amy Wolliston of the Cayman Islands, and Senior Partner of TELUS Health, Al Kiel.

Pension valuations are recovering but require stronger oversight to detect fraud, according to the acting director general at the Financial Services Commission, Major Keron Burrell.

“Recent scandals have shown that the framework for fighting financial crime is not as effective as desired,” said Burrell at the start of the Caribbean Association of Pension Supervisors conference in New Kingston.

Those scandals include alleged financial fraud at Stocks & Securities Limited, which drew international headlines. Burrell said that effective governance, accountability and conduct within institutions are essential for the sector to be resilient and trustworthy.

“A thorough review of the consumer protection and the market conduct framework is exceedingly important to address risk and emerging trends,” he said.

He suggested that pension trustees and managers stay abreast of industry trends and regulatory updates to carry out their duties effectively.

https://appsuite.candwmail.com/appsuite/#!!&app=io.ox/mail&folder=default0//scwm2Bzcpjyk&storeLocale=true