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What is the Financial Services Commission?

With the passage of the Securities Industry Act, 2021, the former International Financial Services Commission (IFSC) was transformed into the Financial Services Commission (FSC) and given the additional responsibility for administration of the SIA, which includes licensing, supervising, and regulating the securities industry in Belize. In addition, with the enactment of the Belize Companies Act, 2022, the FSC was further entrusted with the responsibility for the Belize Companies and Corporate Affairs Registry (BCCAR).

The FSC is committed to international standards and best practices in the regulation and supervision of non-bank financial services. The FSC falls under the portfolio responsibility of the Minister of Finance and is governed by a Board of Commissioners comprising of the Chairman and 8 other Commissioners, including the Director General of the FSC. The Minister appoints the chairperson from amongst the 5 public sector members of the Board, as well as the other Commissioners, save for the Director General who is appointed by the Board on the approval of the Minister. The current Chairman is the Financial Secretary. The Director General is the Chief Executive Officer and the ex-officio Deputy Chairman of the FSC and also serves as the Registrar of the following Registries:

  1. Belize Companies and Corporate Affairs Registry
  2. International Merchant Marine Registry of Belize
  3. Limited Liability Partnerships Registry
  4. International Trusts Registry
  5. International Foundations Registry
  6. International Limited Liability Companies Registry

In fulfilling its mandate and carrying-out its core functions the FSC is committed to ensuring that Belize remain a thriving, competitive, safe and sound jurisdiction from which firms and individuals of  substance and good reputation can conduct good business. To this end, the FSC works collaboratively with industry partners, as well as with local, regional, and international partners in achieving these objectives.

Mandate and Core Functions:

  • Promoting and developing Belize as a centre for financial services;
  • Protecting and enhancing the reputation of Belize as an financial centre;
  • Providing appropriate supervision and regulation of  financial services;
  • Formulating policies and providing advice and assistance to the government on the regulation of such services;
  • Collecting, storing and disseminating reliable and timely information to interested parties on changes and new trends in services being offered;
  • Facilitating capital formation and economic growth;
  • Protecting investors from unfair, improper, or fraudulent practices;
  • Fostering development of fair and efficient capital markets and confidence in the capital markets in or from within Belize;
  • Reducing systemic risk;
  • Promoting public understanding of the financial system, including awareness of the benefits and risks of different kinds of investment or other financial activities;
  • Promoting company formation and business registration.

Vision Statement:

“A thriving, competitive, safe, and sound financial services centre that enhances public confidence and from which firms and individuals of substance and good reputation can conduct and promote good business”

Mission Statement:

“To support the development of the financial services sector and facilitate capital formation and economic growth in Belize primarily through effective regulatory and supervisory practices, investor protection, market expansion, professional skills and product enhancement”.

Our Values:

Everything we do as a regulator will be guided by our core values:

  • Integrity. We will uphold the highest standards of honesty and ethics.
  • Accountability. We will hold ourselves responsible in terms of honouring our commitments to clients and to each other. We take ownership of our work and promptly correct mistakes to the greatest extent possible.
  • Adaptability. We will remain agile, ready to shift or adjust our approach when challenges arise because we cannot control everything that happens, but we can control how we react to constant change.
  • Service Oriented. We will make every decision and measure each strategic goal based on how well it serves our clients and other stakeholders.
  • Reliability. We will be consistent in quality and performance of our duties.

Please see the Financial Services Commission Act, Act 8 of 2023

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