In Trinidad and Tobago we recently enacted a new Financial Institutions Act and are about to send a new Insurance Act to Parliament. As regards supervision our supervisory authorities have taken the initiative to establish a regional Colleges of Regulators to more effectively supervise the international banks that operate in multiple territories.
Our regulators are now working on a Regional Crisis Management Plan that would inter alia: (i)  seek to enhance information-sharing among regulatory authorities;  BIS central bankers’ speeches  5  (ii)  introduce a regime of macro-prudential indicators and a framework to be used as an early warning system for an emerging crisis; and  (iii)  formulate agreed strategies for the timely and orderly intervention into the affected institutions so as to limit the impact on the regional financial system.