Finance Minister Dr Nigel Clarke
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Finance Minister Dr. Nigel Clarke is seeking to assure those concerned that Jamaica's financial institutions remain stable and secure despite the huge fraud uncovered at investment firm Stocks and Securities Limited.
He is encouraging the public to continue to have faith in the system, as Jamaica is among the leading nations in the Caribbean with a strong financial sector.
Dr Clarke made that observation on Tuesday evening in a guarded response to the situation, which is rapidly becoming more complex.
Stocks and Securities Limited is now under the temporary management of the Financial Services Commission, with Kenneth Tomlinson of Business Recovery Services Limited appointed as temporary manager.
With reports indicating that the amounts defrauded may be more than $1.5 billion there is concern about the stability of the company and the wider financial system.
But Dr Clarke is positive that most persons involved in the financial services sector are following the rules, and that the investigations will be successful.
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