Government backs fsc

Its now clear the government supports the FSC shutting down alternative investment clubs. They seem to leave room for changes in the laws of the land to accommodate for the olints and cash plus of the world. The previous government was going after alternative investment clubs also anyway. Frankly nothing new or interesting about their stance. I guess this is a wait and see with the amendments that they propose. Here are a few articles in the news about this new development

Cabinet throws support behind FSC – Leaves room for legal operation of investment schemes in Jamaica

Here also is another interesting story from the Jamaica Gleaner about the creativeness of some investors who are now feeling the pain from the cash plus fall out

Cash Plus clients feel the pinch

Also don’t think that simply changing address will save Higgins Warner or Olint from the wrath of the FSC, whether you be in Argentina, United Emirates, Turks and Cacus or Tim Buk Too, as long as they are doing business with Jamaicans they will be under the watchful eyes of the FSC.

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~ by RB on January 11, 2008.

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