Vexed Bermoothes

Blustery Opinions From Bermuda

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Cutting Corners

February 17th, 2009 · No Comments · Business

Government has announced that Dr. Brown’s stem cell research facility will be allowed to operate under guidelines being developed by the Ministry of Health with the Brown-Darrell Clinic.

Beyond the obvious potential for conflict of interest between his public and private roles, I think there’s a larger issue here.

Stem cell research and treatments are a sensitive field in health care.  Bermuda should only allow their use in our jurisdiction once proper regulations are in place that meet international standards.

I don’t think Bermuda would allow other sensitive businesses – that will surely attract the attention of international regulators – to operate under mere guidelines.

Can you imagine new twists in the banking or insurance sector being allowed to operate here so informally?   No: there would be a Government push to ensure proper legislation, a regulatory environment, and suitably knowledgeable oversight were in place.

So why are we cutting corners here?

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