The Financial Services Commission (“the Commission”) is an independent statutory body established in 2001. The Financial Services Commission Act, 2008 provides for the functions of the Commission, which is responsible for the licensing, supervision and regulation of financial service providers including domestic banks, international banks, trust companies, insurance companies, mutual funds, corporate service providers, company managers, international business companies, and money transmitter services.
The Commission is also the sole supervisory authority of non-financial service providers, including law firms, real estate agents, car dealers, other sellers of high value commodities and luxury goods e.g. jewelers and Non-Profit Organizations and monitors compliance with their obligations in the anti-money laundering and countering the financing of terrorism legislations.