Representatives from more than 15 Caribbean countries attended the 12th Annual Caribbean Group of Securities Regulators (CGSR) Conference and Workshop, recently hosted by the Securities Commission of The Bahamas (the Commission) in Nassau.
The CGSR Conference and Workshop was held April 20-22 at the British Colonial Hilton under the theme "Regional Capital Market Development and Regulation". The event was co-sponsored by the Caribbean Regional Technical Assistance Centre (CARTAC). World-class speakers and thought-leaders presented on timely topics including the role securities regulators play in maintaining market confidence and financial stability, the risks and opportunities presented by technological developments and the shared challenges and experiences of Caribbean securities supervisors.
CGSR meetings provide a forum for Caribbean securities regulators to collaborate for improved technical capacity. They also facilitate the high-level discourse essential for regional regulators to present a strong, unified voice on shared regulatory concerns to international standards setters.
Christina Rolle, executive director of the commission, said the conference's discussion and training elements were designed to focus on how securities regulators could improve oversight to allow the capital markets to play a more prominent role in funding economic growth.
"The question is not whether or not Caribbean securities regulators understand the huge role we play in capital market development," according to Rolle. "Rather, I believe the question is how do we achieve the requisite technical capacity and arrive at pragmatic solutions to effect world-class regulation which allows our capital markets themselves to better fulfil their vital roles in funding the real economy and supporting desired national development."
Minister of Financial Services Hope Strachan brought the keynote address at the conference's opening ceremony. She underscored the importance of collaborating with other regulators to ensure the regional financial services industry is aligned with global standards.
The conference and workshop included notable speakers from regional and international organizations including Werner Bijkerk, head of research department, International Organization of Securities Commissions (IOSCO); Trevor S. C. Alleyne, assistant director, Caribbean I Division, International Monetary Fund; Courtney Christie-Veitch, financial sector supervision advisor, CARTAC; Diego Herrera Falla, financial markets specialist, Inter-American Development Bank and Dr. Shelton Nicholls, financial stability advisor, CARTAC.
CGSR was established to create a forum for regional securities regulators to discuss issues facing Caribbean securities and financial markets. The commission was appointed chair and secretariat of CGSR for 2016-2017 at the CGSR Conference and Annual Meeting on April 23, 2015 in Runway Bay, Jamaica.
The commission is a member of several regional and international regulatory organizations including CGSR, the Council of Securities Regulators of the Americas (COSRA), and IOSCO.
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