JAMAICA’S planned overhaul of financial regulation is likely to take years more to complete, outgoing Bank of Jamaica (BOJ) Governor Richard Byles has said, putting the Twin Peaks reform beyond both its original 18-to-24-month timetable and the Government’s subsequent 2026 target.

Byles, who is scheduled to demit office on August 18, said the BOJ and Financial Services Commission (FSC) were close to submitting the proposed architecture to Cabinet.

“Having brought it to Cabinet, remember now, really still we are at the beginning of the process,” Byles told the Jamaica Observer in an exit interview.