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Guidelines on the Large Exposure Framework for Securities Licensees
The Financial Services Commission of Jamaica issued these guidelines to enforce a large exposure framework for securities licensees, requiring them to identify, monitor, and manage risks associated with significant counterparty concentrations. The regulations establish a maximum exposure limit of 25% of a licensee's capital base to any single counterparty or group of connected counterparties, with specific exemptions for government securities and intra-day liquidity facilities. Licensees must implement robust board-approved risk management policies, report exposures quarterly, and adhere to a phased implementation schedule that fully enforces the limits by December 31, 2021.
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