Financial Services Commission (Barbados)

Last updated
Financial Services Commission (FSC)
Agency overview
FormedApril 1, 2011 (2011-04-01)
Preceding agencies
  • Securities Commission
  • Supervisor of Insurance
  • Co-operatives Department
Jurisdiction Government of Barbados
HeadquartersBay Corporate Building, Bay Street, St. Michael, Barbados
13°4′54.93″N59°36′27.31″W / 13.0819250°N 59.6075861°W / 13.0819250; -59.6075861
Minister responsible
Agency executives
  • Oliver Jordan, Chairman
  • Warrick Ward, Chief Executive Officer
  • Rosina Knight, Deputy Chief Executive Officer Supervision & Regulation
Parent department Ministry of Finance, Economic Affairs and Investment
Website https://www.fsc.gov.bb/

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.

Contents

Organization Structure

The 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]

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References

  1. "FINANCIAL SERVICES COMMISSION ACT, 2010 - 21" (PDF). 2010-12-27.
  2. Commission, Financial Services. "Company Profile". www.fsc.gov.bb. Retrieved 2024-11-03.
  3. Commission, Financial Services. "Corporate Governance". www.fsc.gov.bb. Retrieved 2024-11-03.

See also