Government of Jamaica
The Financial Regulations Division (FRD) deals with the development of the regulatory framework, which influences the operations of the country’s financial sector. The division seeks to develop an effective regulatory framework for deposit-taking and non-deposit-taking financial institutions and the supervision of the pensions industry, as well as to develop an adequate legislative framework for successfully combating financial crimes.
Its core function is to develop the appropriate policy to facilitate prudence, discipline and integrity in the financial industry. Its task is to constantly examine financial sector issues as it relates to the ways in which legislation can be enhanced to achieve international standards. In so doing, the division has been working with the supervisory authorities to develop prudential policies, which will contribute to a stable financial sector.
To develop sound policy for the supervision of the financial sector.
The objectives of the FRD are to:
FRD liaises with several domestic institutions namely: