Press Statement from Michael Misick


The regulation of the financial services has always being the special responsibility of the British-appointed Governor in the Turks and Caicos Islands.
The Governor has always been, then and now, directly supervising the issuing of licenses and has had general oversight for that industry.
Whether it was Governor Jim Poston, Governor Richard Tauwhare, Governor Gordon Wetherell, or now Governor Ric Todd, they have always had full and absolute responsibility for the monitoring and regulation of the financial services industry.
Let me be very clear. At no time in the history of our country has any local government had the responsibility for the financial services industry.
Having said that, I wish to set the record straight, in light of recent press statements and a Supreme Court document about donations from David Smith.
I met David Smith in the summer of 2003, long after coming to office as then Chief Minister of the Turks and Caicos Islands. When I met David Smith, he and his companies were licensed to carry on business in the Turks and Caicos Islands.
To be sure, I was not involved at any stage in the granting of his licenses and I had absolutely no business, officially or otherwise, with Mr Smith.