The FSRC aims to be an effective AML/CFT and Prudential Regulator which offers professional service to all regulated entities by ensuring safety and soundness. The FSRC is responsible for regulating/supervising the following entities:-
• Insurance Companies (Domestic and Captive)
• Private Pension Plans
• Money Services Businesses
• Credit Unions
• The Development Bank of St. Kitts and Nevis
• Tru
st and Corporate Service Providers
• Investment Business
In addition, the FSRC monitors compliance of all regulated businesses and activities with Anti-Money Laundering and Counter Financing of Terrorism Legislation. The FSRC also houses the Companies, Trusts, Foundations, Limited Partnerships and Non Governmental Organisation Registries. We are the ultimate regulatory body for financial services and for anti-money laundering for Saint Christopher and Nevis. We maintain a general review of the operations of all regulated entities. We monitor financial services business carried on in or from within Saint Kitts and Nevis and to take action against persons carrying on unauthorized businesses, compliance by regulated persons with the proceeds of Crime Act, the Anti-Terrorism Act and such other Acts, regulations, codes or guidelines relating to money laundering or the financing of terrorism and also effectiveness of the relevant enactments in providing for the supervision and regulation of financial services business carried on in or from Saint Kitts and Nevis in accordance with internationally accepted standards. We assist any authorized authority in the investigation of any offence against the Laws of Saint Christopher and Nevis which it has reasonable grounds to believe has or may have been committed by a regulated entity; and cooperate with the Financial Intelligence Unit in the supervision of a regulated entity. We advise and give general information and guidance to the Regulators to maintain contact and develop relations with persons engaged in financial services business in or within St. We encourage the development of high professional standards within the financial services industry and promoting industry codes of conduct.
