Dr Nadeen Spence has been appointed as the chair of the new Fair Trading Commission (FTC) board which has an active book of competition matters to review.

Dr Spence will be joined by Captain Roxene Nickle, Christopher Williamson, and Janis Williams as the other commissioners who will serve a three-year term until November 30, 2028. The former board consisted of Andrene Collings, Dr Velma May Brown-Hamilton, Donovan White, and Robert Collie.

“Their appointments are expected to strengthen the commission’s oversight and policy direction as it continues to promote and safeguard competition in Jamaica’s markets,” the FTC’s newsletter stated.

The FTC recently gave its non-objection to Acado Limited’s acquisition of Massy Distribution (Jamaica) Limited which included a consent agreement to preserve competition in the Jamaican insulin market. Cari-Med Group Limited is set to take over the Eli Lilly brand of insulin by September 2025.

The FTC also gave its non-objection to the joint venture agreement between the Jamaica Observer Limited and The Gleaner Company (Media) Limited. The competition regulator pointed to the fact that competitive pressure would remain between both entities since they continue to produce different forms of content.

“Because the parties remain separate entities in the eyes of consumers, the transaction does not increase concentration in the downstream markets for newspaper readership or advertising,” the FTC’s report stated.

The FTC is currently investigating potential competition concerns following a complaint by the Jamaica Gasoline Retailers Association (JGRA). It has received information from the JGRA along with the two largest petroleum marketing companies in Jamaica to inform its assessment of the complaint.

“In addition to the matters raised by the JGRA, the FTC is examining several other issues that may be negatively impacting the commercial viability of petroleum marketing companies and gas stations with a view to promoting fair competition and advocating for a more robust and effective regulatory framework for the sector.

The FTC issued panel guidelines in February to provide best practice for financial institutions procedures in designating the use of specific third-party providers to access certain products. These providers include land and valuation surveyors who can be excluded from doing business with clients if they are not approved by a certain financial institution.

While the FTC’s board has faced limited challenges over management’s recommendations, the regulator is facing two court cases over prior staff reports. The complaint by ARC Manufacturing Limited and subsequent staff report on the steel rebar market was challenged in the Supreme Court by TW Metals Limited (trading as Tank-Weld). The FTC is currently restrained from publishing the staff report, which forms the basis for a $2-billion lawsuit between both parties.

The FTC is also awaiting a ruling by the Court of Appeal on the appeal lodged by Supreme Ventures Limited (SVL). SVL lodged the appeal after the FTC sought to apply financial penalties to the gaming company which lost a Supreme Court case over the FTC’s 2022 staff report.

Trinidad gets new board after 10-month delay

The Trinidad and Tobago Fair Trading Commission (TTFTC) had a new five-member board of commissioners constituted on April 8. This new board is comprised of chair Nisha Persad, Tamara Dewan-Roopansingh, Barry Chin-Fatt, Johnathan Mark, and Patsy Ramharacksingh-Samaroo.

The TTFTC was unable to carry out its enforcement powers since June 2025 when the former board of commissioners resigned. That resignation stemmed from a change in the national government and a precedent for boards to be dissolved in the event of a new government.

Businessman Wendell Eversley requested in March 2026 that a new board be appointed in 21 days lest he request judicial review in the Trinidadian High Court. This is due to the fact that while the TTFTC management could continue its advocacy work, enforcement powers rested with the board of commissioners.

With a new board in place, certain actions recommended by management can now move forward. One such development is Agostini Limited’s acquisition of Prestige Holdings Limited (PHL) which is awaiting TTFTC approval. Agostini announced the deal in June 2025 and received shareholder approval for the deal in July 2025.

Although the deal is a share swap transaction, the company had made a merger application to the TTFTC which has yet to be processed. This has led to the transaction being extended seven times, with May 29 set as the latest deadline to close the deal.

Agostini is a Trinidadian conglomerate which is involved in pharmaceutical and consumer distribution, manufacturing, energy, and property assets across the Caribbean. Agostini recently expanded its footprint to Jamaica with the acquisition of Aventa Jamaica Limited (formerly Health Brands Limited) and Massy Distribution (Jamaica) Limited.

Prestige Holdings is a Trinidadian restaurant management company which operates the KFC, Pizza Hut, TGI Fridays, Subway, and Starbucks brands in the twin island republic. Prestige opened a second TGI Fridays in Portmore, Jamaica, in February 2026. Both companies are majority controlled by companies connected to chairman Christian E Mouttet.

“Agostini Limited has achieved the minimum shareholder acceptance of 96.9 per cent. As a result, regulatory approvals, including approval from the Trinidad and Tobago Fair Trade Commission, are the final steps for the completion of the transaction,” said Mouttet in PHL’s 2025 annual report.