Banking Sector Market Conduct Survey Report

CENTRAL BANK OF TRINIDAD & TOBAGO
Erie Williams Plaza, Independence Square, Port-of-Spain, Trinidad, Trinidad and Tobago Postal Address: P.O. Box 1250 Telephone: (868) 621-2288, 235-2288; Fax: (868) 612-6396 E-Mail Address: info@central-bank.org.tt Website: www. central-bank. oig.tt February 17, 2021 CIRCULAR LETTER TO:
ALL LICENSEES UNDER THE
FINANCIAL INSTITUTIONS ACT, 2008 REF: CB-OIFI-351/2021 MARKET CONDUCT SURVEY REPORT Pursuant to Section 5(3)(a) of the Financial Institutions Act, 2008 ("FIA"), one of the Central Bank of Trinidad and Tobago's ("Central Bank") objectives is to promote efficient and fair banking and financial services markets. In accordance with this objective, the Central Bank issued a Market Conduct Guideline ("Guideline") to institutions licensed under the FIA ("licensees") on November 15, 2018 to provide guidance to the industry on the Central Bank's expectation of good market conduct practices by financial institutions. To assess the sector's compliance with the Guideline, the Central Bank issued a Market Conduct Survey ("Survey") to all licensees in June 2020. The results of the Siuvey were compiled and a Market Conduct Survey Report ("Report") has been completed and is being submitted for your information. Where necessary, the Central Bank will also be issuing individual letters to the licensees with recommendations for improving compliance with the Guideline. The Report can also be viewed on the Central Bank's website at htt s://www.central￾bank. or .tt/node/7381 Please be guided accordingly Yours sincerely Mic elle Francis-Pantor Deputy Inspector - Banks, Non-Banks & Payment Systems Oversight FINANCIAL INSTITUTIONS SUPERVISION DEPARTMENT Enc.