The main bits of legislation that spell out governance requirements for financial institutions in Trinidad and Tobago are the Companies Act, which requires directors to …”act honestly and in good faith with a view to the best interests of the company”, the Financial Institutions Act, Insurance Act, Cooperative Societies Act and the Moneylenders Act.
Bolstering these are Guidelines issued by the Central Bank to its licensees (banks, nonbanks and insurance companies) on Corporate Governance and on determining appropriateness of persons to hold key positions in the organization (“Fit and Proper Guidelines).