Regulatory Alerts2024-10-23 | 24079Added · Updated
Supervisory Ladder of Intervention Policy
The Central Bank of Trinidad and Tobago replaces its 2001 Exit Policy with this Supervisory Ladder of Intervention Policy, which establishes a risk-based framework for supervisory actions against financial institutions. The document mandates a progressive escalation of enforcement measures, ranging from written recommendations and compliance directions to administrative fines, license suspension, and director removal, based on the severity of prudential, governance, or AML risks. This policy applies to licensees under the Financial Institutions Act, insurers, pension plans, payment service providers, and specific state-owned banks, requiring them to adhere to defined intervention triggers and corrective action timelines.
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