FSC Hosts Public Forum in Mo-Bay May 29

The Financial Services Commission (FSC) will be hosting a public forum under the theme: ‘Think and Check before you Invest’ today (May 29), at the Wexford Court Hotel in Montego Bay.
Speaking with JIS News, Deputy Executive Director of the FSC, George Roper, explained that the session is the first in a series of public forums being planned for the year and is aimed at sensitizing the public about the importance of making wise investment choices.
According to Mr. Roper, while the FSC has not seen an increase in complaints from depositors, “there are a number of investment opportunities available and we think that prudent investing is something that we can never get tired of speaking about.”
“We want to remind the public to take the time to investigate any possible investment opportunity before they hand over their hard earned money as well as to remind them to ensure that any individual or company that they are dealing with, should be licensed as a security dealer by the FSC,” he added.
The Deputy Executive Director also noted that persons who are planning to invest with an entity or pool of funds, should ensure that they obtain a copy of the most recent annual audited financial statements as well as the quarterly unaudited statements for the particular entity.
Mr. Roper also pointed out that it was important for potential investors to seek assistance from qualified persons before making a final decision.
“Any kind of documentation that you are going to be required to sign as part of any agreement for you to hand over money, you should carefully scrutinize the provisions and clauses in that document and get professional advice if necessary,” he advised.
In addition to the FSC, there will also be presentations from representatives of the Jamaica Deposit Insurance Company Limited, the Bank of Jamaica and the Jamaica Stock Exchange.
The FSC was established in 2001 and is responsible for supervising and regulating the securities, insurance and private pensions industries in Jamaica.
The Commission recently launched its public education campaign, aimed at sensitizing investors about the importance of developing good investment habits through advertisements, public forums and exhibitions.