NON-ARM'S
LENGTH
TRANSACTIONS
A comprehensive forensic analysis of the CLICO collapse and a six-point legislative reform plan for the Eastern Caribbean financial sector.
The Governance Gap
The collapse of CLICO was not an accident of market forces, but a predictable failure of governance. Our research uncovers how Non-Arm's Length Transactions (NALTs) were used to strip assets, bypass regulations, and defraud stakeholders.
- Shadow directors exercising informal control
- Assets sold at 48% discount to valuation
- Regulatory capture and inaction
- Lack of fiduciary accountability
The Six-Point Reform Plan
A comprehensive legislative framework designed to close loopholes, enhance accountability, and restore trust in the Eastern Caribbean financial sector.
Corporate Law Reform
Codifying fiduciary duties for shadow directors and public officials.
Regulatory Independence
Insulating regulators from political interference and capture.
Insolvency Modernization
Updating bankruptcy laws to prioritize stakeholder recovery.
Public Sector Integrity
Mandating disclosure and conflict of interest standards.
Asset Disposal Transparency
Requiring independent valuation and competitive bidding.
Whistleblower Protection
Incentivizing the reporting of financial misconduct.
