By Andre Bagoo Wednesday, October 7 2009

ATTORNEY General John Jeremie last night responded to concerns over the political independence of a proposed and all-powerful financial intelligence unit expressed by several Independent senators by assuring the unit will not be used to “prosecute or persecute” individuals.

In responding to the concerns aired by at least six Independent senators over the proposed unit which under the Financial Intelligence Unit Bill 2009 would see key staff made accountable to the Minister of Finance, Jeremie conceded the legislation was a cause for concern.

“Yes, there is a need to exercise caution,” he said during debate of the bill. “Yes there is a need to be concerned because this is legislation which infringes on basic and fundamental rights.”

“But no, we have not gone too far,” he added, “and the reason I say that is because we have the FATF (Financial Action Task Force) practical guidelines.”

Jeremie noted that while the unit would have data gathering and analysis powers, it would not be charged with police investigations or have the power to lay charges.

“You have no danger of harm to the individual of persecution or prosecution by this FIU because that is ultra vires the FIU,” he said.

Jeremie maintained the new unit would to some extent undermine fundamental rights but the State was virtually forced to comply with FATF international obligations.

“If our actions are not sufficient there is a penalty, a big stick,” Jeremie said of the prospect of Trinidad and Tobago being blacklisted.

“We have precedents (in other jurisdictions) on which we can build and it is with that confidence that we can say that we are doing the least harm to persons’ fundamental rights while still complying with the FATF guidelines,” he said.

In an energetic presentation, Jeremie sought to emphasise the Government’s hope that the Independent and Opposition benches would work together with it.

“We on this side are lovers,” Jeremie said, “We don’t demolish, we make love to our colleagues opposite and we make even greater lover to those on the Independent benches.”

Minister of Trade and Industry Mariano Browne, in winding up debate on the bill, warned that if the legislation was not passed the implications for trade would be dire.

“The implications for the country and trading are dire... Blacklisting has several implications and would do substantial damage to Trinidad and Tobago, affecting our international credit ratings, (our relationship with) OPEC and trade relations at every major level,” he claimed.

After his statement, the Senate went into committee stage to discuss the amendments where the Opposition and Independent senators kept up the pressure on the Government on such matters as who will appoint the director and deputy director of the FIU.