The new office is intended to strengthen financial consumer protection across the Eastern Caribbean Currency Union and improve the treatment of customers by licensed financial institutions.

The Office of Financial Conduct was launched at the end of September and is scheduled to begin accepting consumer complaints from October 15, 2026.

Its mandate includes market-conduct supervision, with emphasis on ensuring licensed financial institutions treat customers fairly and operate according to appropriate standards of transparency, accountability and responsible business conduct.

The initiative follows concerns raised by consumers across the currency union about their treatment by financial institutions.

ECCB Chief Director of Policy Dr Tracy Polius has said the Central Bank had received complaints from members of the public about banking practices and recognised the need to strengthen financial consumer protection.

The rapid expansion of digital banking has created another concern. As more customers access accounts through smartphones, computers and other devices, opportunities for fraud and scams have also increased. The ECCB says the new office forms part of its response to those risks.

For Saint Lucians, the office is intended to provide a clearer avenue for financial complaints while strengthening oversight of how licensed institutions interact with customers.

The ECCB has indicated that the office will provide digital and telephone support for financial complaints and concerns. Governor Timothy Antoine has said the initiative is intended to ensure customers receive appropriate treatment while strengthening confidence in the banking system.

The office becomes operational for complaints on October 15, providing Saint Lucian consumers with another layer of protection when dealing with licensed financial institutions.