The Financial Services Commission
- Background
- Services
- Contact
The Financial Services Commission (FSC) came into existence on August 2, 2001 by virtue of the Financial Services Commission Act. It has replaced the Office of the Superintendent of Insurance (OSI) and Unit Trusts and the Securities Commission.
The FSC supervises and regulates the securities industry, the insurance industry and the private pensions industry. As such it may be properly described as an integrated financial services regulator.
In being an effective regulator, the FSC has prudently structured the organization with specialist divisions designed to fulfill its mandate. The divisions include insurance, securities, examinations & investigations, legal, actuarial, corporate services and pensions. These divisions fall under an umbrella that seeks to effectively bring to fruition a mandate that is geared towards fostering professionalism within the industries that are regulated by the Commission.
The Commission has responsibility to manage proper administration of the securities and insurance laws. In doing so the FSC oversees the registration, solvency and conduct of approximately 114 firms and over1,200 individuals doing business in the securities and insurance (life and General) industries.
The mandate of the Financial Services Commission (FSC) is to supervise and regulate the securities, insurance and private pensions industries. As such the FSC may be described as an integrated financial services regulator.
In being an effective regulator, the FSC has prudently structured the organization with specialist divisions designed to fulfill its mandate. The divisions include insurance, securities, legal & investigations, actuarial, corporate services and pensions. These divisions fall under an umbrella that seeks to effectively bring to fruition a mandate that is geared towards fostering professionalism within the industries that are regulated by the Commission.
The Commission has responsibility to manage proper administration of the pensions, securities and insurance laws. In doing so the FSC oversees the registration, solvency and conduct of approximately 614 firms and over 4,800 individuals doing business in the pensions, securities and insurance (life and General) industries.
Executive Director
The FSC is governed by a Board of Commissioners established by law and made up of a Chairman, and up to 9 other Commissioners, including the Executive Director. The Executive Director is appointed by the other Commissioners who in turn are appointed by the Minister of Finance. The Executive Director is the only full time Commissioner and he is responsible for managing the activities of the Commission.
Contact
39 – 43,
Barbados Avenue,
Kingston 5
Tel: (+876) 906 3010
Fax: (+876) 906 3018