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Central Statistical Office (CSO)
The CSO is the main body responsible for conducting census surveys. Its other responsibilities include the compilation, analysis and publication of data related to the social and economic activities of the country.
Other Local Regulators
Trinidad and Tobago Securities Exchange Commission (SEC)
This is an independent body established by the Securities Act of 1995. Its primary role is to regulate the securities market.
This is a voluntary association general and life insurers, whose objective is to ensure that member companies engage in legitimate and fair practices.
The Association convened its first meeting in 1997. It was established to provide a forum in which banks can collaborate on the adoption on international best practices, educate the public on financial options and work with the financial regulators to dvelop the banking sector of Trinidad and Tobago.
Consumer Protection & Awareness
A project of the Caribbean Regional Technical Assistance Centre (CARTAC). CARTAC, established by the CARICOM Council of Ministers of Finance and Planning (COFAP) in September 1999, is based in Barbados. The Centre provides technical assistance and training in core areas of economic and financial management at the request of its participating countries.
The Deposit Insurance Corporation (DIC) was established by the Central Bank and Financial Institutions (Non-Banking) Act, 1986. It is designed to provide insurance protection for depositors in the event a member financial institution should fail.
Office of the Financial Services Ombudsman (OFSO)
The Office of the Banking Services Ombudsman was established in May 2003 by the Central Bank of Trinidad and Tobago in conjunction with the commercial banks operating in Trinidad and Tobago, to investigate complaints from individuals and small businesses in respect of financial services provided by the banks and their subsidiary licensed financial institutions.
Regional and International Bodies
The BIS is an international organisation which fosters cooperation among central banks and other agencies in pursuit of monetary and financial stability. Its banking services are provided exclusively to central banks and interational organisations.
Caribbean Centre for Money and Finance (CCMF)
The Caribbean Centre for Money and Finance is governed by a Committee consisting of the eight CARICOM Central Bank Governors. This body decides on all policy matters pertaining to the Centre and approves its annual work programme and budget.
Established in 1994, the IAIS represents insurance regulators and supervisors of some 190 jurisdictions in nearly 140 countries, constituting 97% of the world's insurance premiums. It also has more than 120 observers.
The CFATF is an organisation of states and territories of the Caribbean basin which have agreed
to implement common counter-measures against money laundering. The Task Force was established as the result of two key meetings convened in Aruba in and Jamaica in the early 1990s.
In November 1996, 21 members of the CFATF entered into a Memorandum of Understanding which now serves as the basis for the goals and the work of the CFATF. In this document, CFATF members agree to adopt and implement the 1988 UN Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances; endorse and implement the FATF Forty Recommendations and the CFATF Nineteen Recommendations; fulfill the obligations expressed in the Kingston Declaration as well as, where applicable, in the Plan of Action of the Summit of the Americas; and to adopt and implement any other measures for the prevention and control of the laundering of the proceeds of all serious crimes as defined by the laws of each Member.
The Financial Action Task Force (FATF) is an inter-governmental body whose purpose is the development and promotion of policies, both at national and international levels, to combat money laundering and terrorist financing. The Task Force is therefore a "policy-making body" which works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.
Since its creation the FATF has spearheaded the effort to adopt and implement measures designed to counter the use of the financial system by criminals. It established a series of Recommendations in 1990, revised in 1996 and in 2003 to ensure that they remain up to date and relevant to the evolving threat of money laundering, that set out the basic framework for anti-money laundering efforts and are intended to be of universal application.