SDACU is committed to the highest standards of governance, transparency, and regulatory compliance — rebuilding trust with our members and our regulator.
Our Framework
Reform Programme
18 compliance gaps identified and being addressed through our structured reform programme (SDACU-CGR-001). Key areas being remediated:
Formal fit and proper criteria for Board and management being embedded in by-laws and applied to all current officers.
A formal conflict of interest policy and register being established and maintained for all Board members and officers.
Anti-money laundering and counter-financing of terrorism provisions being fully embedded in by-laws and operations.
Regulatory reporting obligations for the Supervisory Committee being formalised and compliance restored.
Comprehensive by-law amendments (SDACU-BYL-AMEND-001) drafted, pending legal review, SGM approval, and Registrar submission.
FSRA stabilisation loan of EC$2M under agreement with Caribbean Union Conference. Ring-fencing and agreement terms in progress.
Implementation Plan
Governance stabilisation, information baseline, FSRA engagement, compliance gap assessment
By-law amendments, legal review, Special General Meeting, Registrar submission
Financial recovery, policy implementation, AML/CFT embedding, member engagement
Full FSRA compliance, sustainable operations, growth and member value delivery