About the Commission
The regulatory authority for the financial services sector of Nevis, and the lead anti-money-laundering body for St. Kitts and Nevis.
The regulator of the Nevis financial services industry
The Nevis Financial Services Regulatory Commission regulates financial services providers that fall outside the Banking Act, and administers the Corporate Registry for international companies, trusts, foundations and insurance entities.
Our mission is to promote good governance and accountability in a strong regulatory environment, protecting and strengthening the reputation and viability of the Nevis financial services industry.
Mandate: the Commission is the ultimate regulatory body for anti-money laundering for St. Kitts and Nevis, maintaining accountability through regular reporting to the Ministry of Finance.
Functions of the Commission
The core functions of the Financial Services Regulatory Commission, Nevis Branch.
Principal regulatory authority
Serve as the principal regulatory authority overseeing financial services and anti-money-laundering activities for St. Kitts and Nevis.
Ongoing oversight
Conduct ongoing oversight of the operations of all regulated entities.
Supervise & enforce
Supervise financial services conducted in or from St. Kitts and Nevis, and take enforcement action against unauthorised business.
Ensure AML/CFT compliance
Ensure regulated entities comply with the Proceeds of Crime Act, the Anti-Terrorism Act and the relevant money-laundering and terrorist-financing regulations.
Evaluate legislation
Evaluate whether current legislation effectively regulates financial services in line with internationally recognised standards.
Authorise & examine
Grant authorisation and examine regulated entities to verify compliance with the law, assess sound financial health, and confirm prudent business management.
How the Commission is governed
The Nevis Branch of the Commission monitors, oversees and takes such steps as it considers necessary or expedient for the development of the areas it regulates, and is accountable to the Ministry of Finance.
Corporate Service Providers
Credit Unions
International Insurance
Money Services Businesses
Mutual Fund Administration
Multiform Foundations
International Banks
Accountability, Efficiency, Integrity and Vigilance
Four principles guide every licensing decision, supervisory review and enforcement action the Commission takes. The Commission is accountable to the Ministry of Finance.
Accountable tothe Ministry of Finance
How the Commission is organised
The Commission carries out its mandate through three core functions, reporting to the Ministry of Finance.
Prudential & AML/CFT Supervision
Risk-based supervision of regulated entities for safety and soundness and for anti-money-laundering and counter-financing of terrorism.
Licensing & Authorisation
Authorising financial services providers and persons operating in or from within Nevis.
Corporate Registry
Registering international companies, trusts, foundations and insurance entities.
To be published: the Board of Commissioners, senior officers, and the organisational chart. These are defined in the Financial Services Regulatory Commission Act (Cap 21.10) but are not yet published on the site. Provide them and they slot into this section.
Questions about regulation in Nevis?
Reach the Commission at P.O. Box 689, Main Street, Charlestown, Nevis. Office hours Mon–Fri, 8:00am–4:00pm.