We plan to accelerate our work on the preparation of new Pensions legislation. In all cases, the new legislation will aim at adapting well-accepted international best practices to our local situation. Thus for example, Anti-Money Laundering Legislation is critical to any IFC. No large overseas financial institution will come without it.
The Anti-Money Laundering Act will provide legally enforceable means for the application of best practices governing Record Keeping, Retention of Records, and Know-Your-Customer Reporting and Compliance requirements. The passage into law of these Regulations will also ensure that Trinidad and Tobago is compliant with the relevant international benchmarks established by the Financial Action Task Force.