In 2023, Jamaica embarked on adopting a Twin Peaks model of financial sector regulation. Under this framework, once it is implemented, Bank of Jamaica (BOJ) will have responsibility for the micro-prudential supervision of not only Deposit-Taking Institutions (DTIs) - commercial banks, building societies, merchant bank and credit unions, but also Non-Bank Financial Institutions (NBFIs) - securities dealers, insurance companies and pension funds. Additionally, the Financial Services Commission (FSC) will be transformed into a new Market Conduct and Consumer Protection regulator, focusing on business conduct and consumer protection for all financial services providers. The transition to the twin peaks model will involve significant legal reform and institutional restructuring. As Jamaica proceeds to undertake these significant reforms, it is considered timely to evaluate the efficacy of the regulatory arrangement of the stock market in an effort to incorporate any legislative and regulatory adjustments needed to maintain investor protection, market integrity, and efficiency of the capital market. The service of a technical expert is being sought to undertake a comprehensive assessment of the regulatory arrangement for the stock market in Jamaica and recommend the necessary amendments to strengthen the stock market regulations, aligning them to international standards.
-
13 May 2026
-
140566587
-
Refer Document