The Financial Services Commission (FSC) was established in May 2001 under the Financial Services Commission Act as an autonomous body responsible for regulating and supervising entities providing non-deposit-taking financial services. The FSC is mandated to license, regulate, monitor, and supervise the securities, insurance, and private pensions industries, and to investigate and sanction entities falling under its jurisdiction. Its supervisory practices focus on solvency, the quality of internal controls, risk management, and corporate governance within regulated institutions. The Commission seeks to promote stability and public confidence in the operations of financial institutions, as well as the modernisation of financial services to international standards of competence, efficiency, and competitiveness.
For the 2026/27 financial year, the FSC’s operations will be guided by its strategic objectives, with a focus on strengthening the Commission’s ability to consistently deliver credible, effective, and timely regulatory outcomes that protect consumers, foster market integrity, and support financial stability; and embedding robust governance, transparency, and accountability mechanisms that ensure ethical leadership, compliance, and public trust in the FSC’s stewardship and decision-making, among others. Over the medium term, the FSC also intends to adopt the Twin-Peaks Regulatory Model, which will expand its mandate to include market conduct supervision for non-bank financial institutions and ensure the fair treatment of consumers.
The FSC forecasts a net deficit of $186.24 million for 2026/27, compared to an estimated deficit of $407.29 million in the prior financial year.
