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Message From The President
May 2, 2006

It is with great pride that the Jamaica Securities Dealers Association (JSDA) officially launches its yearlong public education initiative.

As more and more Jamaicans continue to seek out additional ways in which they can make superior returns on their money, the JSDA has recognized the need to supply them with the information they need to make the wisest possible decisions about how to invest, where to invest and the various investment options available to them.

Over our 23-year history as an industry, we are proud of the strides that we have made in both the growth of our client base and our funds under management. It is no secret that Securities Dealers have changed the landscape of money management in Jamaica, with more and more individuals and institutions, taking advantage of the wide array of products and services offered through our membership. Recent statistics show the impact that our Dealers are having on the traditional financial services sector, and we continue to meet the needs of our ever-discerning clients, in continuously providing them with additional investment opportunities.

The JSDA has and continues to work closely with our Regulator, the Financial Services Commission (FSC), in developing efficient capital markets underpinned by prudential requirements that support capital adequacy and appropriate risk management, and are guided by best practices worldwide. The JSDA is further committed to collaborating with the FSC and other stakeholders, to provide a regulatory and a legal framework where financial products are developed and rolled out to the investing public on a timely basis, to meet their investment return requirements and risk appetites.

The JSDA’s members, being the largest holders of securities backed by the Government of Jamaica and Bank of Jamaica recognizes the importance of our support in efforts to introduce a Fixed Income Depository. This important joint initiative of the Jamaica Stock Exchange and the Jamaica Central Securities Depository, will replace the current cumbersome settlement process and will see the dematerialization and electronic settlement of securities, along the lines of the equities market. This will increase efficiency in the general operations of the market.

We trust that this inaugural supplement will provide you with the fundamental information that you will need, to begin your assessment of available investment opportunities. Hereafter, I invite you to contact any of our members and speak with one of their licensed representatives, who would be happy to guide you along your road of financial success.Throughout the remainder of 2006, our initiative’s activities will include the launch of our new JSDA website, hosting of an educational seminar and topical editorials to be published in the national press.

Finally, on behalf of all of the members of the JSDA, I would like to thank you Jamaica for your support and confidence. We certainly would not have enjoyed our successes without you, and it is my hope that through publications of this nature, we will be able to widen the number of Jamaicans who are able to access our products, and to further empower all with the provision of timely and relevant information.

We look forward to a continued partnership with you as we aim to fulfill our mandate by “Building Trust & Market Integrity”.

Keith Duncan

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