The Eastern Caribbean Central Bank (ECCB) has launched a new Office of Financial Conduct, a dedicated unit that will oversee the behaviour of financial institutions across the Eastern Caribbean Currency Union (ECCU) and strengthen protections for customers.
The office was introduced at an official launch event hosted by the ECCB. It is intended to ensure that banks, credit unions, insurance companies and other licensed financial entities treat customers fairly and operate transparently.
The ECCB has not yet published detailed regulations or an implementation timeline, but the creation of the office signals a shift toward more proactive supervision of market conduct. The new unit will focus on how financial institutions deal with the public, rather than only on their financial soundness.
For residents of the Commonwealth of Dominica and the wider currency union, the office is expected to provide a clearer avenue for raising concerns about unfair fees, mis-selling of products, or poor service. It will also work to promote good practice among financial firms.
The ECCB has not yet named the head of the office or outlined its full powers. Further announcements are expected as the unit becomes operational.
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