report on Bermuda's financial regulatory systems before it is released to the public.

A Government spokesman said a report compiled by accountants KPMG on regulations governing banks and financial institutions in all the Overseas Territories had been held back.

The report was due to be released last week but after discussions between them and the UK Government, it was decided to delay the publication.

Finance Minister Eugene Cox is currently off the Island on holiday and is due back today. It is likely the report will be released early next week.

There is a chance that the Minister may want to share some of the information contained with the international business community, before it is made public.