The Anguillan Financial Services Commission is an autonomous

regulatory authority A regulatory agency (regulatory body, regulator) or independent agency (independent regulatory agency) is a government authority that is responsible for exercising autonomous jurisdiction over some area of human activity in a licensing and regu ...

responsible for the regulation, supervision and inspection of all financial services in and from within

Anguilla Anguilla is a British Overseas Territories, British Overseas Territory in the Caribbean. It is one of the most northerly of the Leeward Islands in the Lesser Antilles, lying east of Puerto Rico and the Virgin Islands and directly north of Sa ...

, including

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...

banking A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

, trustee business, company management,

mutual funds A mutual fund is an investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV in Europe ('investmen ...

business as well as the registration of

companies A company, abbreviated as co., is a legal entity representing an association of legal people, whether natural, juridical or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specifi ...

limited partnerships A limited partnership (LP) is a type of partnership with general partners, who have a right to manage the business, and limited partners, who have no right to manage the business but have only limited liability for its debts. Limited partnership ...

intellectual property Intellectual property (IP) is a category of property that includes intangible creations of the human intellect. There are many types of intellectual property, and some countries recognize more than others. The best-known types are patents, co ...

and

ships A ship is a large vessel that travels the world's oceans and other navigable waterways, carrying cargo or passengers, or in support of specialized missions, such as defense, research and fishing. Ships are generally distinguished from boats, ...

. The commission was established by the enactment of the Financial Services Commission Act on 26 November 2003 and it commenced operations on 2 February 2004. The commission now oversees all regulatory responsibilities previously handled by the government through the Financial Services Department. The commission was established in 2001 pursuant to the Financial Services Commission Act (Cap F.28) to try to protect the independence of the regulation of financial services. The establishment of the commission was also part of certain international commitments by Anguilla to play its part in the fight against cross border

white collar crime The term "white-collar crime" refers to financially motivated, nonviolent or non-directly violent crime committed by individuals, businesses and government professionals. The crimes are believed to be committed by middle- or upper-class indivi ...

while safeguarding the privacy and confidentiality of legitimate business transactions. The commission has also been tasked with new responsibilities including promoting public understanding of the financial system and its products, policing the perimeter of regulated activity, reducing

financial crime Financial crime is crime committed against property, involving the unlawful conversion of the ownership of property (belonging to one person) to one's own personal use and benefit. Financial crimes may involve fraud (cheque fraud, credit card f ...

and preventing

market abuse In economics and finance, market abuse may arise in circumstances in which investors in a financial market have been unreasonably disadvantaged, directly or indirectly, by others who: * have used information which is not publicly available (inside ...

. The Chair of the Financial Services Commission is Helen Hatton. Mrs Hatton was a former financial regulator in

Jersey Jersey ( ; ), officially the Bailiwick of Jersey, is an autonomous and self-governing island territory of the British Islands. Although as a British Crown Dependency it is not a sovereign state, it has its own distinguishing civil and gov ...

, and is Fellow of the Institute of Advanced Legal Studies and a Freeman of the Worshipful Company of International Bankers.

References

External links

Official Website
Organisations based in Anguilla Economy of Anguilla Government agencies established in 2003 2003 establishments in Anguilla Financial regulatory authorities Regulation in Anguilla {{finance-stub

See also

References

External links