Director of Financial Services at the Ministry of Economic Affairs, Brandace Duncanson,underscored the importance of Caribbean collaboration on regional compliance efforts duringher address at the Caribbean Regional Compliance Association (CRCA) Conference 2025, heldlast week in St. Kitts and Nevis.
The event brought together regional compliance professionals, policymakers, regulators, andprivate sector leaders committed to advancing compliance standards across the Caribbean.The Ministry of Economic Affairs has been a trusted partner and recurring sponsor of the CRCAConference for the past four years, in recognition of its vital role in strengthening the region’sfinancial integrity and promoting best practices in governance and compliance.
In her remarks, Director Duncanson praised the CRCA’s role in uniting regional professionals andfostering a culture of transparency and cooperation:
“The Caribbean’s success in compliance will be defined by our ability to unite. When we worktogether as regulators with the industry, governments with the private sector, and islands withother islands, we not only strengthen our defenses against financial crime, we also strengtheninvestor confidence and protect the integrity of our financial systems.”
She further emphasized that collaboration must extend beyond compliance enforcement tocollective advocacy for fairness on the international stage:
“The Caribbean is already among the most compliant regions in the developing world. What’sneeded is for the same rules to apply to everyone. Decisions that affect our economies andreputations should not be made in rooms where we have no voice.”
The conference featured wide representation from The Bahamas, including Fareda Sands,former President of The Bahamas Association of Compliance Officers and one of the event’s cochairs. The Insurance Commission of The Bahamas also participated, with Superintendent ofInsurance, Dana Munnings-Gray, delivering a presentation. Bahamian communicationsexecutive, Valdez Russell, served as the moderator of the event.
Among regional dignitaries in attendance were the Hon. Dr. Terrance Drew, Prime Minister ofSt. Kitts and Nevis; H.E. Marcella Liburd, Governor General of St. Kitts and Nevis; Hon.
Rhondalee Braithwaite-Knowles, Attorney General of the Turks and Caicos Islands; and Hon. E.Jay Saunders, Minister of Innovation, Technology, and Energy for the Turks and Caicos Islands.Pointing to the importance of financial services to regional advancement, Director Duncansonnoted that collaboration through forums like CRCA not only strengthens compliance capacitybut also contributes to economic resilience across the Caribbean:
“Each Caribbean nation on its own will always face size and resource constraints. But together,we form a bloc that has already achieved results. When we link arms, share knowledge, andopen doors together, we go beyond meeting standards; we set them.”
Following the CRCA Conference, the Ministry of Economic Affairs will embark on a major Asiantour during the first week of November, which will commence with the Bahamas Asia Forum,held on the 5th of November, showcasing the “Bahamas Advantage” as the nation seeks to tapinto new markets across Asia.
Private sector partners supporting this effort include Champion Spirit Country Club Bahamas,the Securities Commission of The Bahamas, Baha Mar, Maran Global, Leno Corporate Services,Caystone Solutions, Liongate Bahamas, and Equity Bank Bahamas.
The Asian tour will also include attendance and sponsorship of the Society of Trust and EstatePractitioners (STEP) Asia conference in Hong Kong and a high-level Financial Services Summit inShanghai, which will feature a panel of Bahamian financial services experts. The Bahamiandelegation will be led by Director Duncanson.
The Ministry’s participation in the Asia tour underscores its ongoing commitment to expandingglobal partnerships and promoting The Bahamas as a world-class jurisdiction for financialservices, innovation, and investment.
Director of Financial Services at the Ministry of Economic Affairs, Brandace Duncanson,
underscored the importance of Caribbean collaboration on regional compliance efforts during
her address at the Caribbean Regional Compliance Association (CRCA) Conference 2025, held
last week in St. Kitts and Nevis.
The event brought together regional compliance professionals, policymakers, regulators, and
private sector leaders committed to advancing compliance standards across the Caribbean.
The Ministry of Economic Affairs has been a trusted partner and recurring sponsor of the CRCA
Conference for the past four years, in recognition of its vital role in strengthening the region’s
financial integrity and promoting best practices in governance and compliance.
In her remarks, Director Duncanson praised the CRCA’s role in uniting regional professionals and
fostering a culture of transparency and cooperation:
“The Caribbean’s success in compliance will be defined by our ability to unite. When we work
together as regulators with the industry, governments with the private sector, and islands with
other islands, we not only strengthen our defenses against financial crime, we also strengthen
investor confidence and protect the integrity of our financial systems.”
She further emphasized that collaboration must extend beyond compliance enforcement to
collective advocacy for fairness on the international stage:
“The Caribbean is already among the most compliant regions in the developing world. What’s
needed is for the same rules to apply to everyone. Decisions that affect our economies and
reputations should not be made in rooms where we have no voice.”
The conference featured wide representation from The Bahamas, including Fareda Sands,
former President of The Bahamas Association of Compliance Officers and one of the event’s cochairs. The Insurance Commission of The Bahamas also participated, with Superintendent of
Insurance, Dana Munnings-Gray, delivering a presentation. Bahamian communications
executive, Valdez Russell, served as the moderator of the event.
Among regional dignitaries in attendance were the Hon. Dr. Terrance Drew, Prime Minister of
St. Kitts and Nevis; H.E. Marcella Liburd, Governor General of St. Kitts and Nevis; Hon.
Rhondalee Braithwaite-Knowles, Attorney General of the Turks and Caicos Islands; and Hon. E.
Jay Saunders, Minister of Innovation, Technology, and Energy for the Turks and Caicos Islands.
Pointing to the importance of financial services to regional advancement, Director Duncanson
noted that collaboration through forums like CRCA not only strengthens compliance capacity
but also contributes to economic resilience across the Caribbean:
“Each Caribbean nation on its own will always face size and resource constraints. But together,
we form a bloc that has already achieved results. When we link arms, share knowledge, and
open doors together, we go beyond meeting standards; we set them.”
Following the CRCA Conference, the Ministry of Economic Affairs will embark on a major Asian
tour during the first week of November, which will commence with the Bahamas Asia Forum,
held on the 5th of November, showcasing the “Bahamas Advantage” as the nation seeks to tap
into new markets across Asia.
Private sector partners supporting this effort include Champion Spirit Country Club Bahamas,
the Securities Commission of The Bahamas, Baha Mar, Maran Global, Leno Corporate Services,
Caystone Solutions, Liongate Bahamas, and Equity Bank Bahamas.
The Asian tour will also include attendance and sponsorship of the Society of Trust and Estate
Practitioners (STEP) Asia conference in Hong Kong and a high-level Financial Services Summit in
Shanghai, which will feature a panel of Bahamian financial services experts. The Bahamian
delegation will be led by Director Duncanson.
The Ministry’s participation in the Asia tour underscores its ongoing commitment to expanding
global partnerships and promoting The Bahamas as a world-class jurisdiction for financial
services, innovation, and investment.
