ST. VINCENT-FINANCE-Eustace wants answers surrounding FSA takeover of financial institution

KINGSTOWN, St. Vincent, CMC – Opposition Leader Arnhim Eustace Monday questioned the decision of the three-month old Financial Services Authority (FSA) to take over management and control of the Building and Loan Association (BLA), warning it could lead to further loss of investor confidence in St. Vincent and the Grenadines. “Further, I call on the FSA to give members a more fulsome account of the status of Building & Loan, with all deliberate speed,” Eustace told a news conference. Last week, the FSA announced it had taken the decision to protect the interest of stakeholders and that it is not a permanent arrangement even as it gave no indication as to how long it would maintain the situation and reiterated an earlier “appeal for calm and reasoned judgment on the part of all relevant parties at this time.