'Reach regulatory jungle finish line'

Tue, Apr 5th 2011, 11:00 PM

By NEIL HARTNELL

Tribune Business Editor

The Bahamas must "sort out the regulatory jungle" that its financial services industry has laboured with for many years, a senior attorney warned yesterday, explaining this was a key factor in the nation's failure "to make any significant inroads in the capital markets business".

Brian Moree QC, senior partner at McKinney, Bancroft & Hughes, told Tribune Business in an exclusive interview that the Bahamas had "for many, many years" been talking about financial services regulatory consolidation, either through a single supervisory body or dual regulators, but had "yet to reach the finish line".

Warning that thi ...

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