The Authority has a duty of confidentiality in relation to information or documents acquired in the performance of its functions in respect of any licensee of affairs of any licensee or client of the licensee.

The Authority has the power to require the licensee to produce for examination any books, records or other documents required to be held by the licensee and may also require them to provide any information, documents in relation to the licensee and its business.

(v) Any buyer or other transferee (including a lessee or licensee) of the encumbered asset.

Thus the Authority may give directions to the licensee or may even suspend its license.

Section 8 of the act provides for certain duties imposed on the licensee Such as maintaining such records and documents relating to its business or clients and making sure that clients funds remain separate from that of the licensee.

This includes an order of the court, the consent of a licensee or client, where the information is in public domain or where it is disclosed in statistical form or is conveyed in a manner where the identity of the licensee or client cannot be ascertained.

Section 13(1) provides that SIBA has the power to give directions to the business providing such a service and may even issue guidelines for proper conduct of business by the licensee under this act.

Such authority shall monitor the activities of licensees and whenever necessary may make enquiries or examine documents or records of any licensee for the purpose of ensuring that the provisions of this act are complied with.

Section 3 lays down a code of practice for the licensees whereby every licensee shall at all times know and be able to identify its client and be able to identify the beneficial owners of it client companies.

Section 14(1) lays down the powers of the Authority in the event that the licensee carries on its business detrimental to the public interest in contravention of section 6 to 13 or in breach of the regulation or any law.

the Director of Prosecutions the Commissioner of Inland Revenue or the appropriate supervisory authority of financial institutions outside Barbados at the request of that authority, where the branch, holding company or affiliate of the licensee is operating in that country.

any supervisory or regulatory authority of financial institutions in Barbados and the appropriate supervisory or regulatory authority of financial institutions of another country, at the request of that authority, where there is a branch, holding company or affiliate of the licensee operating in that country.