Supervisory directors approved

POSTED: 11/23/12 12:50 PM

St. Maarten – Technocrats of the board for financial supervision Cft and the Corporate Governance Council (CGC) were expected to meet yesterday to discuss matters such as the decree for the CGC.
Although questions continue to persist as to whether the CGC is completely ready to function adequately, Prime Minister Sarah Wescot-Williams announced that the Council of Ministers had approved the profiles of the supervisory directors for the Corporate Governance Council recently.
“We were awaiting feedback from several companies on the draft profiles, in the absence of this, thus receiving a response from some of the companies, the government approved the profiles for the supervisory directors.”
“There has been some talk regarding the corporate governance council with workers of the Cft. The matter of corporate governance is a part of the law that governs the financial supervision. There have been discussions with the Cft about the furtherance of the Corporate Governance Council,” Wescot-Williams stated.
“Both parties, the government and the council, are not out of it yet. Some technical discussions are ongoing now also with the involvement of the technocrats of the Cft,” the prime minister added, as she referred to the decree.

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