By Paula Lindo

Copyright newsday

Attorney General John Jeremie called on the opposition and independent senators to support the passage of the Miscellaneous Provisions (FATF Compliance) Bill, 2025 and the Counter-Proliferation Financing Bill, 2025 so that TT could pass the upcoming assessment of the Financial Action Task Force (FATF) mutual evaluation report, due in 2026.

The FATF Compliance bill was passed in the Senate with 23 votes for, no votes against and seven abstentions. The Counter-Proliferation Financing Bill, 2025 was passed with 30 votes for, no votes against and no abstentions.

Piloting the bill in the Senate on September 26, Jeremie said the bills are intended to ensure that TT gives effect to this country’s obligations as a member of the international community where financial matters are concerned and particularly as a member of the Caribbean FATF (CFATF).

Jeremie addressed what he said were three fallacies which were raised in the House of Representatives on September 19. He said the first was that the government was bringing flawed legislation.

“We are here to debate amendments to ensure compliance with the mutual evaluation report (MER) for 2026. That is a process that was started three years ago under one of my predecessors. These amendments are required for compliance, either because they were not brought by our predecessors based on previous reports or because the FATF would have changed their own requirements. This is not new.”

He said the second fallacy was that the government brought the legislation to Parliament late and missed a deadline.

“In 2023, then AG Reginald Armour made an application for extension of the 2026 deadline, citing changes in the parliamentary term, the timing of elections and the expected outcomes. Instead of ensuring this amendment was done ahead of time, the previous government left it in our hands. I met with CFATF and said while the legislation would not be passed by August 2025, which was the original deadline, it would be brought to the Parliament on the earliest possible occasion, which is now.”

Jeremie said the third fallacy was that TT was not exercising enough sovereignty by making these amendments.

“We are part of the international community, including the UN, a signatory to several treaties and part of the FATF global network. More than 200 governments and international organisations are part of this network, and unless we want to be a society where you can only send money from Port of Spain to Chaguanas and Point Fortin, instead of the UK, the US and elsewhere, we have to play by the global rules, and FATF and CFATF set the global rules.”

Jeremie said a suggestion was made to send the bills to a joint select committee, but said this was where bills were sent to die.

He went through TT’s history with FATF compliance. He said in 2020, in a milestone achievement, TT was removed from the FATF grey list, which mitigated the potential for de-risking by certain banks.

“It made clear that we had made substantial reforms and those reforms had taken place by all of us in this house and that is why I ask all of us to do the right thing this afternoon.”

Jeremie said bringing TT to compliance was not the work of any one government or administration and commended the dedication of the public servants who constantly work on the issue.

“One of the most important bodies entrusted with that is the National Anti-money Laundering and Counter-financing of Terrorism Committee (NAMLAC). It is situated in the Office of the Attorney General but it is manned by personnel from the office of the Attorney General, the Ministry of Finance, the Ministry of National Security, the Director of Public Prosecutions, the Commissioner of Police, the Financial Intelligence Unit, the Central Bank, the Board of Inland Revenue and the Securities and Exchange Commission.”

Jeremie also discussed beneficial ownership, amendments to the Companies Act, the proceeds of crimes, and anti-terrorism measures.

The Miscellaneous Provisions (FATF Compliance) Bill, 2025 is an Act to amend the Trustees Ordinance, Cap. 4 of 1939, the Prevention of Corruption Act, Chap. 11:11, the Mutual Assistance in Criminal Matters Act, Chap 11:24, the Proceeds of Crime Act, Chap.11:27, the Anti-Terrorism Act, Chap.12:07, the Police Service Act, Chap. 15:01, the Financial Intelligence Unit of Trinidad and Tobago Act, Chap. 72:01, the Income Tax Act, Chap 75:01. the Companies Act, Chap. 81:01, the Partnership Act, Chap. 81:02, the Registration of Business Names Act, Chap. 82:85, the Securities Act, Chap. 83:02 and the Non-Profit Organisations Act, No. 7 of 2019 to give effect to the obligations of Trinidad and Tobago under the Financial Action Task Force.

The Counter-Proliferation Financing Bill, 2025 is an Act to provide for implementation of the recommendations of the Financial Action Task Force (FATF) with respect to measures to counter proliferation financing, to make consequential amendments to the Economic Sanctions Act and for related matters.