Finance Minister Dr Nigel Clarke
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Finance Minister Dr Nigel Clarke
The Jamaican Government is preparing to increase penalties of white collar crimes in the financial sector.
Minister of Finance, Dr Nigel Clarke announced on Monday that the administration will review the penalties regime in the laws governing securities, banking, insurance and pensions.
Dr Clarke, speaking at a press conference at his ministry, asserted that it was time for fairness in relation to the penalties applied for all criminal acts.
He said in the interest of transparency, securities dealers will have to publish their financial statements and material events at standards equivalent to public companies listed on the Jamaica stock exchange.
Dr Clarke was speaking in the wake of the uncovering of massive fraud at the company, Stocks and Securities (SSL) Limited.
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