Barbados governor calls for regional regulatory system

Barbados Central Bank Governor, Dr. Marion Williams wants a regional regulatory system for the financial sector to be put in place.



Dr. Williams said while there is an intention, national approaches have taken precedence over the setting up of the system.



There are proposals for a Caricom-wide system but the draft legislation has been stalled.



Dr. Williams said the pace of implementation has also been challenged by ongoing efforts of individual jurisdictions to reform their own national framework.



She said recent developments in the financial sector demand a speeding up of such a move.