Turks and Caicos Islands Banking Regulatory Bodies Get Boost from New Attorney General
The Caribbean Financial Action Task Force (CFATF) has welcomed the appointment of Rhondalee Braithwaite-Knowles as the new Attorney General of the Turks and Caicos Islands, marking a significant development for the island’s banking regulatory bodies.
Appointment of New Attorney General
Rhondalee Braithwaite-Knowles was appointed by His Excellency the Governor, Peter Beckingham, following an open selection process that attracted candidates from across the Caribbean and Europe. The recruitment panel, comprising officials from the TCI Government and international experts, selected Braithwaite-Knowles as the outstanding candidate for the role.
Responsibilities of the Attorney General
As Attorney General, Braithwaite-Knowles will be responsible for shaping the country’s financial regulatory framework, including overseeing the work of key banking regulatory bodies such as:
- Financial Services Commission: The primary regulator of the TCI’s financial services sector.
- Anti-Money Laundering Authority: Responsible for implementing and enforcing anti-money laundering and combating the financing of terrorism (AML/CFT) regulations.
Positive Step Forward for the Financial Sector
The appointment is seen as a positive step forward for the TCI’s financial sector, which has faced challenges in recent years. The island’s banking system has been under scrutiny from international regulators, and the new Attorney General will play a crucial role in ensuring that the country meets its obligations under AML/CFT regulations.
Experience and Expertise
Braithwaite-Knowles brings extensive experience to the role, having served as Acting Attorney General since October 2013. Her appointment is also significant because she is the first local citizen to hold the position, marking a milestone in the island’s history.
CFATF Congratulates New Attorney General
The CFATF has congratulated Braithwaite-Knowles on her appointment and expressed confidence that she will make a valuable contribution to the country’s financial regulatory framework. The organization has pledged to work closely with the new Attorney General to ensure that the TCI meets its international obligations and maintains a strong reputation as a stable and secure financial hub.
A Step in the Right Direction
As the island looks to rebuild its financial sector, Braithwaite-Knowles’ appointment is seen as a step in the right direction. Her experience, expertise, and commitment to the role will be crucial in driving positive change and ensuring that the TCI’s banking regulatory bodies are effective and efficient in their work.