“The Outlook for International Financial Services Regulations” The Overseas Countries and Territories Association of the European Union on May 21st and 22nd, 2007 has taken a further initiative by holding a conference hosted by the British Virgin Islands, with the theme of the conference being “The Outlook for International Financial Services Regulations” This initiative seemingly was motivated in the manner of finding a constructive way to incorporate the “Financial Services” by the Overseas Countries and Territories (OCTs) within a structured approach of the OCTA. This should lead toward the acknowledgment of the European Commission regarding standards of transparency; exchange of information and proper regulatory policies already established also more foreseen within the OCTs International Financial Service Sectors. The conference is part-funded by the European Commission. One of the potentials of this conference is to establish some form of a liaison mechanism between the OCTA and the European Commission related to the OCTs good governance with an auxiliary incentive being European Development Funding (EDF). In retrospect, it is highly observed that good governance should not become a provision thereby creating further bureaucracy toward European Development Funding. Additionally, there should be a combined endeavor regarding regulations and objectives to be achieved. It is important to note on behalf of the OCTs that, the United Kingdom (UK) apparently has stated, the importance of implementing international standards is confirmed and that the UK is working with its OCTs in this respect. Further, OCTs have shown commitments, have adopted autonomous regulations and are vigorously engaged in discussions with other countries. The conference subject matter as is conveyed by the OCTA, is of key importance to the economic and social development of the majority of OCTA members, who either host International Finance Centers or is interested in doing so. The conference brought together: ● Senior Regulators and Finance Officials from the OCTs ● Regulators and Finance Officials from key International Organizations from the European  Commission, OECD (Organization for Economic Co-Operation and Development) ● IMF (International Monetary Fund) Representation ● The FATF (Financial Action Task Force) Representation ● World Bank Representation ● EU (European Union) Member States Representation     The discussions were based on the outlook for International Finance Services regulations, with an emphasis to be placed on dealing with matters in a constructive and non-confrontational manner. The conference-envisioned points to be addressed designed for the OCTs: ● To improve and understand the developing international regulatory framework thereby enhancing their ability to meet international responsibilities; ● Enabling the OCTs to expose at first hand the quality of their regulations to regulators and officials consequently allowing for an exchange of best practices; ● Explore the potential for early and greater involvement of OCTs in the development of international standards; ● Examine what support they might need to meet their international commitments. ● To be a Forum where to discuss whether a regional approach could bring added value. Part 2 of this article will address some of the conclusions of the Overseas Countries and Territories Association conference co-sponsored by the European Commission with the theme being “ The Outlook for International Services Regulation” of which was held in the British Virgin Islands. Written by: Mr. Jerome M. Sardine, Managing Director Caribbean Management Services Ltd. (CMS) “Caribbean Management Services Ltd. (CMS) NEWSLETTER” conveys a diversity of NEWS that plays a fundamental role within the totality of the International Financial Sectors of Anguilla, inclusive of consequential NEWS linked to various jurisdictions within the Caribbean Region and Internationally. The NEWS may relate directly or indirectly to the Sector and or Sub-Sectors as it pertains to the socio, economic and policies impact on a global basis.