THE EDITOR, Sir:
THIS IS an open letter to the Financial Services Commission:
We, concerned members of the financial services industry, respond to a letter published in The Financial Gleaner on Friday March 1, 2002. We are very happy that K.M. was able to receive assistance from the Financial Services Commission in order to settle a long-standing insurance claim. K.M. You are very lucky. Can you help us?
Ever since the insurance industry became beholden to the Financial Services Commission, we have found it impossible to communicate with anyone there. We are not certain what caused this communication breakdown, but we know the following:
(1) Information from that office to the industry is in short supply;
(2) the lines at the Commission remain busy during the regular work day, so it is difficult to get through;
3) Mr. Brian Wynter, executive director, never returns telephone calls. We have made several telephone calls to Mr. Wynter's office, without the benefit of him returning even one. When we do get through to the Commission, we are afraid to hang up because we are afraid that we may not be able to get through again. It is disgusting to hold on and then no one comes on the line to talk to us. It is very disturbing when we have questions and there is no one to ask.
Mr. Wynter, we are suggesting that you take a hint from Mr. Errol McLean, Superintendent of Insurance, Mr. Earl Melhado, former executive director of the Securities Commission, and Mr. Glenford McLeish, Director of Securities, FSC.
Although you communicate directly to umbrella groups such as JAGIC, LICA, LUAJ etc., when we have individual questions that are for our interests only, communicating with these groups cannot help us. It is at these times that we want you to either take our telephone calls or return our calls. We are suggesting that in the interest of good regulatory relationships, that Dr. Davies intervenes.
As members of the insurance and securities industries, we are imploring him to look into this situation, especially in light of the disgraceful increases that we are about to be slapped with. Although we are quite resentful of the insulting 300 - 500 per cent (and more in some cases) increase in fees, we understand that we must pay for the monitoring of our industries. However, we will not pay for the persistent disrespect to us from Mr. Wynter and the FSC.
We are etc.,
A. GRIFFITHS
A. BRODBER
M. MOORE
jamaicanting86@yahoo.com
