The Eastern Caribbean Central Bank (ECCB) says it will officially launch its Office of Financial Conduct (OFC) at the end of September 2026, strengthening financial consumer protection across the Eastern Caribbean Currency Union (ECCU).
The ECCU groups the islands of Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Montserrat and Anguilla and the ECCB said that the OFC will begin accepting complaints from October 15, this year.
It said that the OFC will operate as an ECCB department responsible for market conduct supervision, with a focus on ensuring that Licensed Financial Institutions (LFIs) treat consumers fairly and uphold high standards of transparency, accountability and responsible business conduct.
ECCB Governor Timothy Antoine said the Office of Financial Conduct will play an important role in promoting fair treatment of customers and strengthening confidence in the financial system.
‘The Office of Financial Conduct is intended to ensure that customers are accorded the dignity and respect they deserve. It will help ensure that financial institutions are held to account for treating customers fairly. This is imperative to strengthen and sustain confidence in our financial system,’ he said.
Through the OFC, consumers will be able to seek assistance with concerns involving unfair treatment, misleading or incomplete information, fees and charges, banking products and accounts, and access to financial services.
Consumers may submit complaints online, in writing, or in person, at no cost and without legal representation. Where appropriate, the OFC will assess and investigate complaints and facilitate their fair and timely resolution, while maintaining appropriate confidentiality.
The ECCB said that the establishment of the OFC reflects its ongoing efforts to strengthen financial sector regulation and consumer protection. Work to establish the OFC began in 2019, and in February 2024 the ECCB Monetary Council approved its establishment. The Banking Act, 2015, was subsequently amended to introduce Part VIII, Market Conduct Supervision, providing the legislative framework for:the Office.
The OFC’s development was informed by extensive stakeholder consultations across the ECCU in 2025 and 2026. The ECCB engaged consumer and civil society organisations, youth and community groups, financial institutions, government officials, legal practitioners and other stakeholders.
It said these consultations highlighted concerns including fees and charges, difficulties opening bank accounts, fraud and scams associated with digital financial services, and the risk of financial exclusion as services become increasingly digital.
The ECCB said that the OFC will be supported by a Financial Conduct Committee and a Financial Dispute Resolution Commission, which will contribute to the consideration of complex complaints, provide advice on financial conduct matters and support informed and independent decision-making within the legislative framework.
To date, five of the ECCB’s eight member countries have enacted the required legislative amendments. St. Lucia is awaiting the second reading of the relevant amendments. Anguilla and Dominica are expected to pass the necessary legislation this year.
‘The launch of the OFC marks an important advancement in the ECCB’s commitment to ensuring that financial consumers are treated fairly, have access to effective mechanisms for resolving complaints, and can participate confidently in an evolving financial system.’