PHILIPSBURG:---  The Permanent Committee of Parlatino Matters (CPM) of Parliament will be meeting on March 3, 2026.

The Committee meeting is scheduled for Tuesday at 10.00 hrs. in the Legislative Hall at Wilhelminastraat #1 in Philipsburg.

The agenda points are:
1. Incoming documents

2. Advice regarding the number of members of Parliament representation in Parlatino committees (IS/394/2025-2026 dated November 28, 2025)

3. Letter from Parlatino regarding First Vice Chairmanship of the Committee on Economic Affairs, Social Debt, and Regional Development Parlatino Committee (IS/393/2025-2026 dated November 26, 2025)

4. Updates and presentations by Members of Parliament who have attended or participated in Parlatino committee meetings and engagements in the second semester of 2025 (IS/699/2025-2026 dated February 13, 2026 and IS/394/2025-2026 dated November 28, 2025)

Members of the public are invited to the House of Parliament to attend parliamentary deliberations. All persons visiting the House of Parliament must adhere to the house rules.

The House of Parliament is located across from the Court House in Philipsburg.

The parliamentary sessions will be carried live on TV 15, Soualiga Headlines, via SXM GOV radio FM 107.9, via Pearl Radio FM 98.1, the audio via the internet www.sxmparliament.org, www.pearlfmradio.sx and www.youtube.com/c/SintMaartenParliament

PHILIPSBURG:---  The Permanent Committee of Kingdom Affairs and Inter-Parliamentary Relations (CKAIR) of Parliament will meet on March 3, 2026.
The Committee meeting is scheduled for Tuesday at 14.00hrs. in the Legislative Hall at Wilhelminastraat #1 in Philipsburg.

The agenda points are:
1. Debriefing IPKO and Tripartite Consultations held from February 19-23, 2026, in Aruba

2. Discussions regarding the SSS Cooperative meeting to be held in April 2026

Members of the public are invited to the House of Parliament to attend parliamentary deliberations.

All persons visiting the House of Parliament must adhere to the house rules.
The House of Parliament is located across from the Court House in Philipsburg.

The parliamentary sessions will be carried live on TV 15, Soualiga Headlines, via SXM GOV radio FM 107.9, via Pearl Radio FM 98.1, the audio via the internet www.youtube.com/c/SintMaartenParliament and www.pearlfmradio.sx

PHILIPSBURG:--- The Parliament of Sint Maarten recently began deliberations on five draft national ordinances aimed at modernizing the country’s financial supervision framework. These laws, presented by Minister of Finance Marinka Gumbs, are designed to align Sint Maarten with international standards and ensure compliance with the Financial Action Task Force (FATF) recommendations.

The five draft ordinances include:

1. Supervision of Securities Intermediaries and Asset Managers
   This ordinance introduces a licensing requirement and subjects securities intermediaries and asset managers to prudential and conduct supervision. Minister Gumbs explained that this law is critical to closing gaps in the current legal framework and protecting Sint Maarten from financial fraud and other risks. “A properly regulated capital market supports investment, entrepreneurship, and sustainable economic growth,” she stated.
2. Supervision of Virtual Asset Service Providers
   In response to FATF’s Recommendation 15, this ordinance establishes a licensing regime for virtual asset service providers. It aims to prevent money laundering and terrorist financing while promoting responsible innovation in the digital financial sector. Minister Gumbs noted, “Virtual assets are a reality of the modern financial landscape. Our task is not to ignore them but to regulate them in a careful and proportionate manner.”
3. Oversight of Payment and Securities Settlement Systems
   This ordinance focuses on the resilience and reliability of payment and securities settlement systems. It introduces oversight mechanisms to ensure these systems meet international standards, thereby safeguarding Sint Maarten’s financial infrastructure.
4. Supervision of Operators of Financial Market Infrastructure (FMI) Systems
   This law codifies the principles for financial market infrastructures (PFMI) into Sint Maarten’s legal framework. It aims to protect the country’s financial stability and maintain its international connectivity. Minister Gumbs emphasized the importance of this ordinance, stating, “Clearing and settlement systems form the backbone of our payment and securities infrastructure.”
5. Supervision of Payment Service Providers
   Perhaps the most impactful for residents, this ordinance introduces a licensing regime for payment service providers, paving the way for modern digital payment solutions. Minister Gumbs highlighted the potential for increased financial inclusion, stating, “This law opens the door to new and more affordable methods of financial service provision for the residents of our country.”

The Minister stressed the urgency of passing these laws to avoid Sint Maarten being placed on the FATF’s gray list, which could have severe economic consequences, including reduced foreign investment and higher transaction costs. “Being gray-listed signals to the world that a country’s financial guardrails are weak,” she warned.

However, the draft laws have sparked debate among Members of Parliament. Concerns were raised about the timing of the legislation, the Central Bank of Curaçao and Sint Maarten's capacity to enforce the laws, and the need for amendments to address Sint Maarten’s unique circumstances. Some MPs also questioned the harmonization process with Curaçao, expressing frustration that Sint Maarten often appears to be following rather than leading in legislative matters.

Minister Gumbs acknowledged these concerns but reiterated the importance of aligning with international standards. “These laws are not about Curaçao or the Central Bank. They are about protecting Sint Maarten’s economic and financial stability,” she said.

The deliberations are set to continue, with MPs expected to pose further questions and potentially propose amendments. The outcome of these discussions will determine whether Sint Maarten can meet its international obligations and strengthen its financial system for the future.

PHILIPSBURG:--- At Monday’s Central Committee meeting of Parliament, Minister of Finance Marinka Gumbs delivered a compelling address on St. Maarten's role within the monetary union with Curaçao. Her remarks came amidst growing public discourse and statements from Curaçao’s Acting Minister of Finance, Mr. Cooper, suggesting a potential separation of the two countries within the union.

Minister Gumbs firmly stated, “St. Maarten is not a liability to anyone. We are an autonomous country within the Kingdom and an equal partner in this union.” She emphasized that cooperation between the two nations must be rooted in mutual respect, not dependency or superiority. While acknowledging the historical necessity of the monetary union, she made it clear that St. Maartin’s future course would be determined by legal analysis, economic stability, and the best interests of its people.
The Minister addressed the importance of unity between government and Parliament, particularly in matters of economic and financial stability. “When government and Parliament speak with one voice, we strengthen our negotiating position. When we stand divided, we weaken our leverage,” she said, urging for a cohesive approach to safeguard the country’s financial future.

Minister Gumbs also highlighted the strategic importance of the five harmonized national ordinances on financial supervision currently under discussion in Parliament. These laws, she explained, are not about union politics but about protecting St. Martin’s economic and financial stability. “These laws align our supervisory framework with international standards. They strengthen our compliance architecture, safeguard our banking and financial institutions, and protect St. Martin whether we remain in the union or whether the future structure of the union changes,” she stated.

In response to recent statements from Curaçao’s Acting Minister of Finance, Minister Gumbs clarified that such remarks are for Curaçao’s account and do not dictate St. Maarten’s position. “Stability requires preparation, strategic assessment, and alignment between government and Parliament,” she said, adding that any assessment of the monetary union’s future must be coordinated and rooted in national interest.
Minister Gumbs concluded her address by reiterating the importance of passing the proposed financial supervision laws. “Preparation is not panic. Compliance is not weakness. Institutional strength is not political theater. It is responsible governance,” she declared, underscoring the need for St. Maarten to remain aligned with international standards to protect its economic and financial stability.