Enhanced Oversight for Stocks and Securities Limited

News Articles • January 12, 2023 • by: FSC • [Download Document]

 

January 12, 2023


NEWS RELEASE
FOR IMMEDIATE RELEASE

 

 

Enhanced Oversight for Stocks and Securities Limited


Kingston, Jamaica – The Financial Services Commission (FSC) is aware of reports of allegations
of fraud at one of its licensees, Stocks and Securities Limited (SSL).


The FSC has issued Directions to SSL. These Directions which were dispatched to the company
Thursday January 12, 2023 are a supervisory tool to allow the FSC to engage an entity in a
process of enhanced oversight.


In the case of SSL, this enhanced oversight reflects the need for the FSC to have a full view of
the integrity of the transactions being conducted, including the movement of funds, and of
securities into and out of SSL.


Under the Directions, SSL can still conduct business on behalf of its clients but with the oversight
and approval of the FSC.


The FSC will simultaneously continue its investigations into matters related to SSL.


The Financial Services Commission…promoting integrity in Jamaica’s financial sector.


-END

Contact:
David Geddes
Director – Stakeholder Engagement, Communication & International Relations
Phone: (876) 822-2934

January 12, 2023
NEWS RELEASE
FOR IMMEDIATE RELEASE