Regulatory Alerts2017-08-25 | 29538Added · Updated
Central Bank of Trinidad and Tobago Service Standards
The Central Bank of Trinidad and Tobago establishes service standards for the Financial Institutions Supervision Department, effective July 31, 2012. These standards impose specific processing timelines on the Bank for regulatory and supervisory services provided to banks, non-banks, insurance companies, intermediaries, and pension plans. The document mandates acknowledgement of requests within 5 days, initial reviews within 10 to 15 days, and sets defined working day limits for approvals, such as 75 days for new banking business lines and 120 days for foreign insurance branches. The Bank reserves the right to extend these timelines for regulatory concerns and will review the standards after one year.
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