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Lizards in the Neotropical genus <i>Iguana</i> are heavily traded for the international pet trade, with unusual colour morphs and rare species commanding high prices. Recent research aimed to understand the taxonomy and phenotypic variation of <i>Iguana</i> in the Lesser Antilles, with those populations now severely threatened by this trade. Although the entire <i>Iguana</i> genus has been on the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) Appendix II since 1977, current levels of trade regulation are proving to be inadequate for the Caribbean <i>Iguana</i> populations, which are declining. This paper presents the case for immediately halting regional commercial trade to safeguard the most vulnerable island populations. We further provide recommendations for trade regulations of other species complexes where the nomenclature used in legislation and the trade industry fall temporarily out of step with new taxonomic changes.