Regulatory Alerts2024-10-23 | 24019Added · Updated
Payments System Guideline No 4 – Oversight of Systemically Important Payment Systems
Systemically Important Payment Systems (SIPS) must be licensed by and report regularly to the Central Bank of Trinidad and Tobago, while non-SIPS are subject to a lighter registration framework. SIPS operators are required to submit annual and auditors' reports within three months of their financial year-end and must notify the Inspector of Financial Institutions within five days of specific operational failures or legal proceedings. The Central Bank may impose access regimes governing participant eligibility and fees, and conducts regular compliance assessments based on internationally accepted core principles for risk management, security, and governance.