WILLEMSTAD – The government of Curaçao has introduced new regulations to assess the suitability and integrity of key officials in the financial sector, aiming to strengthen oversight and public trust.
The measure, now formally published in the official gazette, is based on an existing framework developed by the Central Bank of Curaçao and Sint Maarten (CBCS). It applies to directors, supervisory board members, and other individuals in influential positions within financial institutions.
Under the new rules, candidates will be evaluated not only on their knowledge, experience, and professional conduct, but also on their integrity. This includes checks on criminal records, financial behavior, and tax compliance.
The CBCS will carry out these assessments prior to appointments and retains the authority to reassess individuals at any time if new risks or relevant information emerge. Despite this oversight, financial institutions remain responsible for nominating qualified candidates and continuously monitoring their suitability.
With the introduction of the regulation, the government aims to enhance transparency, improve governance standards, and reinforce confidence in Curaçao’s financial sector.