A one day exhibition in Independence Square today, May 24, was not only designed to showcase insurance companies in St. Kitts and Nevis but to also create aware within the public about the Financial Services Regulatory Commission (FSRC) and the institution’s role as a regulator.
Deputy Director of the agency Tevince Coker gave a brief overview of the event, which was being held for a third successive year.
Coker revealed that the FSRC regulates money services businesses, credit unions, trust and corporate service providers and designated non-financial businesses and professions, such as casinos and car dealerships.
Ideally, the FSRC body is responsible to making sure that companies exist in accordance with the license they were issued and that they are in compliance with the anti-money laundering/ anti- terrorism legislation.
Last year the focus of the exhibition was on money services businesses, like Western Union and in 2017 the focus was on credit unions.