St Vincent Replaces Banking Confidentiality Act

PT       2002-05-31 
The financial services sector in St. Vincent and the Grenadines witnessed a monumental shift in direction yesterday with the repeal of the Confidential Relationships Preservation (International Finance) Act, 1996. This Act, which was once lauded as the strictest confidentiality act in the world has now been repealed in its entirety and replaced by the Exchange of Information Act 2002. The Exchange of Information Act facilitates the sharing of information from regulator to regulator, both locally and internationally.