Jamaica’s alternative Investment Schemes would be illegal in the USA

by David Mullings

I attended a Jamaica Investment Symposium yesterday in South Florida and one panel included George Roper, Deputy Director of the Financial Services Commission (FSC) and Antoinette McKain, CEO of the Jamaica Deposit Insurance Company (JDIC).

The audience wasted no time during the Q&A segment to ask the questions many want answers to. The first question was roughly:“I don’t like the word ’schemes’ to describe these, I call them ‘opportunities’. Are these ‘opportunities’ operating illegally and if so, then shut them down, if not, leave them alone.” The answer was very clear - The FSC pointed out that it describes Credit Unions as “collective investment schemes”, there is no negative connotation with the word “scheme” when they describe any financial company. Read more

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