From Finsac, Cash Plus and Olint, to Stocks and Securities Limited (SSL), too many Jamaicans who were by no means affluent have been fleeced or deprived of their hard-earned savings, wiped out on the eve of their retirement.

The thing that stands out usually is the appearance of a lack of protection for investors, which becomes apparent only after they have lost their funds and the act of thievery or deception sparks national outrage.

For as far back as we can remember, Jamaicans have nursed serious suspicions about the integrity of the leadership of the financial system which, in turn, has fattened the rumour mill — and now social media — with every kind of conspiracy and fake theories that easily mislead the uninformed.

That is why the call by Jamaica Council of Churches (JCC) President Archbishop Kenneth Richards, head of the Roman Catholic Church, for a commission of enquiry into the operation of the financial sector is not so far-fetched.

Thievery, as we said in this space recently, is not entirely avoidable; because no system, impregnable as it might appear, is safe from the people who operate them, if they are corrupt and greedy.

One can only hope that those who have responsibility for, in this case, the financial sector entities, will do everything they can to mount as many obstacles as possible, or the means to catch breaches and the culprits, as early as possible after an event.

It is now obvious from all the reports, including by Finance Minister Dr Nigel Clarke and the Financial Services Commission (FSC), that the regulators and monitors of SSL fell asleep at the wheel for a very long time.

It is true that some investigations have been launched, but with everybody crying innocence and nobody seeing anything for almost 13 years, it is not only the esteemed men of the cloth who have lost faith in the system.

With so many names being called of people in whom we need to trust as a nation, and doubts being raised about the Jamaican financial sector, locally and internationally, it is appropriate to create the fullest possible transparency.

There is also this uneasy feeling at the back of the mind that so many investigations have been held over the years with so little results to show. How can we be sure that this is not just another one of those investigations designed to hoodwink the public?

The prime minister should consider a wider examination that goes well beyond Stocks and Securities Limited — indeed, other recent incidents have taken place at NCB Capital Markets and Sagicor — if we are to restore some confidence in the sector and the courage in Jamaicans to save their money.

We give Archbishop Richards the last word: “Greed and selfishness have become the path to success that too many Jamaicans have chosen to take. We feel compelled, therefore, to address this matter… on the basis of the principles which we have affirmed and repeatedly asserted in our many previous pronouncements on governance.

“…We see a dire need for the reiteration of ethical principles by the holders of public and corporate offices and those in whom fiduciary trust has been reposed. There is an urgent need for strong commitments from our public, corporate, and business leaders to publicly embrace and professionally practise the highest ethical standards and ideals.”