Q&A Interview With Mr. John D.K. Lawrence Superintendent, Financial Services Commission

Q. In your opinion what have been the most important developments relating to the Turks & Caicos Island's role as an offshore financial centre over the past 18 months? Please discuss any important changes that have occurred during this period.

A. There have been no major changes in legislation in the diction over the last 18 months. While it is sometimes viewed as being "cutting edge" to be constantly introducing and amending legislation, I do not think that too many changes are necessarily good for a jurisdiction. They tend to foster uncertainty and instability and these are not attributes that are conducive to a successful offshore jurisdiction.

What we have been doing in TCI recently is to strengthen its image by introducing legislation on Regulatory Co-operation and to improve public awareness of TCI by several promotional activities, such as production with the private sector of a quarterly financial newsletter.