“Mr. Ince, why don’t you tell us what returns you’ve achieved for your clients since you created the CLICO Balanced Fund in 2000? How did all those folks do who borrowed money from you to invest in your fund so you could put that money back into Clico? Huh? How did they do?”
In our ‘Please just shoot me because this is so bloody unbelievable’ department…
Senator Jeptor Ince says “Despite the significant contributions that this growing non-banking financial sector can make to the development of our country, one still has to remain cautious in ensuring that the investor and customer alike are protected,”
This man is talking about protecting investors and customers!
He, Jepter Ince, who destroyed the life savings of countless old folks by advising them to invest in CLICO? He, Jepter Ince, who advised old folks to mortgage their home to borrow money to invest in the future?
Sometimes I need a stiff drink in the middle of the morning…
Strict rules for financial sector
from The Nation
Government is keen on welcoming new investment in the non-bank sector, but it will not be doing so at the expense of stringent regulations.
The Ministry of Finance and Economic Affairs and the Financial Services Commission will therefore be maintaining their vigilance of these financial institutions.
Parliamentary Secretary in the Ministry of Finance and Economic Affairs, Senator Jepter Ince, gave Government’s position on the issue yesterday during the official launch of microfinance company Axcel Finance Barbados at its McGregor Street, Bridgetown office.
“Despite the significant contributions that this growing non-banking financial sector can make to the development of our country, one still has to remain cautious in ensuring that the investor and customer alike are protected,” Ince said.
… read the full article at The Nation: Strict rules for financial sector