In recent months, there has been major legislative changes that will affect the way businesses are governed in Jamaica. One being the Senate’s approval of the Companies (Amendment) Act which will enable Jamaicans to meet international obligations in countering money laundering and combating the financing of terrorism. The Bill was approved without amendments on March 31, 2023. The other being the introduction of the Data Protection Act (2021) which governs the safe use, storage and sharing of customers’ data.
The Jamaica Stock Exchange (JSE), having the responsibility for market regulation and compliance, sought to bring awareness to these implementations and play its part in ensuring stakeholders remain compliant. It is against this background that the JSE partnered with the Companies Office of Jamaica (COJ) and Privacy Consultant Firm, Design Privacy, to host a sensitization session with the aim of highlighting the possible impacts of the recent Amendment to the COJ Act, as well as the requirements of the Data Protection Act (2021) which comes into effect on December 1, 2023.
The JSE’s Regulatory and Market Oversight Division (RMOD) also gave advise to the listed companies on rule amendments that impact companies’ Audit Committee.
It was on Monday, June 12, 2023, that the JSE hosted members of the listed companies at 40 Harbour Street and virtually through a sensitisation session with experts involved in the processes who sought to guide attendees through the steps in ensuring smooth continuation of their business when these new and existing policies are actioned.
