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The St. Lucia
Branch of the Offshore Institute was officially launched on Friday August 24th
2001 at the Wyndham Morgan Bay Hotel in St. Lucia. The launch was attended by
all stake holders in the industry including the government, the regulators, the
service providers and the industry promoters. The President of the
Institute, Samuel Lohman was the guest speaker at the event. In his address he
commended St. Lucia on the quality of its infrastructure, particularly the
suite of legislation for international financial services which he felt drew
and improved on the best models in the industry. Mr. Lohman and the Chairman of
the St. Lucia Branch Nicholas John, Managing Director of the Hewanorra Group of
Companies, both stressed that the focus of the branch would be to train its
members so that the quality of service provided matches the changing needs of
the sector. The Minister of International
Financial Services, Philip J Pierre, reiterated government's commitment to the
highest standards of service and regulation. In his address he praised the
service providers for ensuring that proper client acceptance procedures and due
diligence was done on potential clients, rather than seeking volume business
that may not be sustainable in the long term.
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