Hybrid Event
The Financial Services Commission of Belize hosted an Information Sharing Session on the Implementation of the Securities Act on June 5th, 2024, at 9:30 AM Belize time (CST/ GMT-6).
Through expert presentations and discussions, participants explored the following topics:
- The Power of Capital Markets- Overview of the SIA and SIR
- Registration- Companies and Individuals
- Building the Supervision Program
- Building the Enforcement Program: Enforcement Procedures and Appeals Process
Background
The Financial Services Commission of Belize (“the FSC”) is responsible for the administration of the Securities Industry Act, 2021 (SIA). The FSC is vested with the responsibility and power to register and regulate securities activities in and from within Belize.
The FSC’s responsibilities include, but is not limited, to the following:
i) The registration and regulation of securities entities in/from Belize;
ii) The supervision and regulation of timely and relevant disclosure of information by securities entities in or from within Belize;
iii) The ongoing review, examination, and inspection of securities entities in or from within Belize.
The aim of this information sharing session is to provide an overview of the Commission’s ongoing efforts in the securities industry in Belize. We will discuss the progress made to date and outline future initiatives, focusing on licensing, compliance, and enforcement.
Agenda
8:30 AM – Registration
9:30 AM – Welcome Address
Mr. Claude B.F. Haylock, Director General and Deputy Chairman of the Financial Services Commission of Belize
9:45 AM The Power of Capital Markets – Overview of the SIA and SIR
Mr. Franco Destro, Special Advisor, Financial Services Commission
10:00 AM Registrations – Companies and Individuals
Mr. Marlon Kus, Director of Licensing and Securities at the Financial Services Commission of Belize
10:30 AM Building the Supervision Program
Ms. Rochelle McFadzean, Assistant Director of Compliance at the Financial Services Commission of Belize
10:45 AM Building the Enforcement Program
Ms. La Donna John, Director of Legal and Enforcement at the Financial Services Commission of Belize
11:00 AM – Q&A and Discussion
11:45 AM – Closing Remarks
Mr. Franco Destro, Special Advisor, Financial Services Commission
Presentations
Topic: Registration – Companies and Individuals
Topic: Building the Supervision Program
Topic: Building the Enforcement Program: Enforcement Procedures and Appeals Process
Featured speakers:
Topic: Opening Remarks
Claude B.F. Haylock
Director General and Deputy Chairman of the Financial Services Commission (FSC) of Belize since September 1, 2017, oversees regulation and supervision of the “non-bank” financial services sector. He also serves as the Registrar of Companies, Registrar of Merchant Shipping, and the Registrar of numerous other legal entities including NGOs/NPOs, Foundations, and Trusts.
Topic: Registration – Companies and Individuals
Marlon Kus
He serves as the Associate Director of the Licensing and Authorisation Department at the Financial Services Commission of Belize. In this role, he is dedicated to advancing the Commission’s function to promote and develop Belize as a leading financial services centre while protecting and enhancing Belize’s international reputation in the industry.
Topic: Building the Supervision Program
Rochelle McFadzean
Rochelle McFadzean has served in various capacities during her ten-year tenure in the banking industry. She has been the Assistant Director of Compliance at the FSC since November 2019. In this role, she is responsible for supporting the Compliance Department by overseeing regulation and supervision of the non-bank financial services sector.
In 2023 she completed a Joint Assessor Training conducted by the Financial Action Task Force (FATF) and the Caribbean Financial Action Task Force (CFATF). She also successfully completed all prescribed requirements of the Anti-Money Laundering and Financial Crimes Prevention Institute in association with AMLFC Institute and the University of Belize and is now a Certified Anti-Money Laundering and Financial Crimes Prevention Professional.
Topic: Building the Enforcement Program: Enforcement Procedures and Appeals Process
La Donna John
Director of Legal and Enforcement at the Financial Services Commission of Belize, ensures regulatory compliance in the financial sector. She’s a founding member of the Belize Companies and Corporate Affairs Registry’s Project Steering Committee, with a background as a Magistrate for the Government of Belize. Additionally, she is a practicing Attorney-at-Law and Notary Public.
