FSC offers assurance

THE Financial Services Commission (FSC) on Tuesday assured Jamaicans that the massive fraud at Stocks and Securities Limited (SSL) is not an indication that the securities dealers sector here is no longer safe for people to invest. However, certain regulated changes may have to be made to reduce the chances of another occurrence in the sector.

“From the work that we do, fraud in the industry is not commonplace, and certainly fraud at the scale of what has occurred is even less commonplace,” FSC Executive Director Everton McFarlane told the Jamaica Observer. “And so to that extent, I think it would be premature to say that across the sector things are so lax that people’s money is not safe because of fraud.”

Full story in the Business Observer

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