Published: Wednesday October 1, 2008
Osborne Nurse, Chairman and CEO of the Trinidad and Tobago Securities and Exchange Commission has said that out of 21 respondents in a poll of securities firms, only three had exposure to Bear Stearns, Goldman Sachs or Fannie Mae - to a value of under US$10M.
Nurse was at the time addressing business executives and members of the public at a panel discussion sponsored by the Securities Dealers Association of Trinidad and Tobago (SDATT) to discuss the global financial crisis and its impact on T&T.
The Chairman of the organisation with responsibility for regulating the Trinidad and Tobago marketplace said that the SEC's response to the financial crisis in the US has been "to protect the financial system and the investors".
As such, he said the Commission has moved quickly to gauge the level of T&T companies' exposure and to further examine the specific exposure within the exposed firms and to determine capital adequacy.
Nurse commended SDATT for holding the panel discussion and kick starting the dialogue and revealed that the Commission will soon hold a forum to discuss the regulation of sophisticated investments products which the country is now involved in such as derivatives, structured products and mortgage - backed securities - to name a few.
Source: Trinidad Express Newspapers
http://www.trinidadexpress.com/index.pl/article_business_mag?id=161382183
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