REMARKS OF U.S. CONSUL GENERAL GREGORY W. SLAYTON
to the Hamilton Rotary Club
March 11, 2008

Good afternoon.  Thank you all for inviting me to speak to you today. (Christopher Morris, President). Today I’ll be talking about the importance of:

• Strengthening Bermuda’s public and private education;
• Upgrading Bermuda’s anti-money laundering and anti-terrorist funding (AML/CTF) laws and infrastructure; and
• Unity.

EDUCATION

• It goes without saying that today’s youth are tomorrow’s leaders.  We all recognize the pivotal role that a good education plays in preparing our young people to assume leadership and to become all-around good citizens.
• And we all recognize that Bermuda’s public education system is in urgent need of upgrading. I commend Premier Brown for acknowledging that fact openly and taking action to correct it. That takes courage and commitment because change is difficult  
• I see this as a very positive move, and one that I whole-heartedly endorse. I call on everyone in the community to join me in supporting public education in Bermuda.
• From many meetings with corporate Bermuda, I know that the international business community is 100% behind improved education.  It is in their best interests, because they would prefer to hire Bermudians over expatriates. It makes economic sense to hire locally.
• That same corporate community, in particular the international re/insurance sector, has over recent years been increasingly very generous in offering Bermudians scholarship and internship opportunities. 
• But corporate support is not enough. Government cannot do it alone, nor can teachers or parents. What is needed is a partnership of all these elements, with our children in the middle.  The mindset must be one of educational excellence, which generates opportunity in the workplace and social cohesion.
• In a recent address to this forum, Mr. Kevin Comeau spoke about a new approach to education.  His ideas are innovative and exciting, and I think that is what we need right now – new ideas to improve education in the Bermuda context.
• I think it will happen.  There may be resistance because there always is to something new.  But I believe the will is there and that together we can make it happen.
  

ANTI-MONEY LAUNDERING

• The financial industry has come to define Bermuda.
• To continue its dominance in the field, it is important that Bermuda strive to be among the leaders in the arena of meeting global financial standards.  This has been agreed by both industry and government as in the island’s best interests.
• Parallel to the growth of the island’s re/insurance sector has been the development of a well-respected AML/CFT regime.  But there is room for improvement.
• I have been working for six months to encourage and support Bermuda in its decision to update its AML/CFT regulatory framework.
• Also, a recent report by the International Monetary Fund revealed that Bermuda’s AML/CFT regime is hampered by a lack of funding and personnel to enforce existing regulations.  Premier Brown has assured me that he will address these concerns as a priority and upgrade relevant legislation as soon as possible.
• As an aside, I might mention that at the Consulate, I have appointed an economic specialist to serve as point person on this issue.
• The Bermuda Monetary Authority’s (BMA) just-released Business Plan for 2008-09 makes it clear that they are pursuing legislation that will strengthen regulation of the island’s financial industry and make it even less subject to abuses such as money laundering and terrorist financing.
• The government has already passed legislation creating the Financial Intelligence Agency, which acts as a clearinghouse between the police’s Financial Investigation Unit and the regulatory Bermuda Monetary Authority. Mr. Sinclair White was named chairman of the newly-formed agency whose job it is to receive and refer suspicious activity reports to the police.
• And then there is the appointment of former BMA CEO Mrs. Cheryl-Ann Lister as a consultant to oversee coordination of anti-money laundering program and anti-terrorist funding program.
• With the tremendous focus on anti-money laundering and anti-terrorist financing since 9/11, I believe Bermuda is well on the road to being a world leader in this arena.
• Certain stakeholders – they may be attorneys, accountants and other support services – might find that the burden of change falls more heavily on them, but in the end they will benefit.  We will ALL benefit.
  

I wish to conclude by thanking publicly some of those who have been instrumental in motivating and implementing change in this arena.

• Finance Minister Paula Cox,
• Attorney General Kim Wilson and her team,
• BMA head Matthew Elderfield and his team, and especially
• Premier Ewart Brown without whose active support and leadership Bermuda would be lagging behind global standards.
  

UNITY

• It took Aesop just five words to say it: “In union there is strength.” 
• There are political, economic and social divisions here in Bermuda – as there are all over the world – that need to be healed. There are divisions among families that have caused great pain and suffering. And yes, there are long-standing racial issues of many generations that cannot be swept under the rug and/or ignored…on both sides.
• But the way forward – I might even say the only way forward – is together. This is a small Island – but in many ways a truly great Island. Only by working in tandem and putting division behind us can issues be acknowledged and resolved; only together can we advance the cause of health, happiness and prosperity for all. 
• With willingness on both sides, Bermuda can unite and triumph.  There is a growing awareness that basic social problems must be solved if the community is to move forward in a healthy way.  That means that the family, the basic societal building block, must be strengthened; children must feel valued and they need to be nurtured and encouraged to become the best they can be – whatever their strengths and goals. 
• There must be progress in racial harmony on this island. I believe in what former United Nations’ leader Kofi Annan said, “We may have different religions, different languages, different color skin, but we all belong to the human race.”  Truer words were never spoken. Together we can achieve the goal of race-blind unity and enrich ourselves in the process if we value our differences.
• Let me end with this quotation from Psalms, “Behold how good and how pleasant it is for brethren to dwell together in Unity.”  Amen.

Thank you for your time and attention and for the opportunity to speak to you today.