The Financial Services Commission (FSC) is a financial regulatory authority responsible for the regulation, supervision and inspection of non-banking financial services in the corporate sector and global business in Barbados.[1] It was established on 1 April 2011 under the Financial Services Commission Act 2010 which replaced the former Securities Commission, Supervisor of Insurance, and the Co-operatives Department.[2] It contains 4 regulatory divisions: The insurance division, the credit union division, the securities division, and the pensions division. The FSC is housed under the portfolio of the Barbados Ministry of Finance.
| Agency overview | |
|---|---|
| Formed | April 1, 2011 |
| Preceding agencies |
|
| Jurisdiction | Government of Barbados |
| Headquarters | Bay Corporate Building, Bay Street, St. Michael, Barbados 13°4′54.93″N 59°36′27.31″W / 13.0819250°N 59.6075861°W |
| Minister responsible | |
| Agency executives |
|
| Parent department | Ministry of Finance, Economic Affairs and Investment |
| Website | https://www.fsc.gov.bb/ |
Organization Structure
editThe authority is governed by a Board of Commissioners appointed by the Minister of Finance and Economic Affairs. The Commissioners,a chairman and six others,hold office for a period of three years, with each member being eligible for re-appointment. The board sets policy and within a framework of effective controls, has ultimate responsibility for providing leadership and oversight to FSC's operations.[3]
References
edit- ^ "FINANCIAL SERVICES COMMISSION ACT, 2010 - 21" (PDF). 2010-12-27.
- ^ Commission, Financial Services. "Company Profile". www.fsc.gov.bb. Retrieved 2024-11-03.
- ^ Commission, Financial Services. "Corporate Governance". www.fsc.gov.bb. Retrieved 2024-11-03.
External links
editSee also
edit- Economy of Barbados
- Regulatory Authority
- List of financial regulatory authorities by jurisdiction
- Central Bank of Barbados
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