Financial Services Commission Hosts First-Ever Open Day Marking 25th Anniversary

Today, the Financial Services Commission (FSC) held its first-ever open day, aimed at strengthening engagement and fostering greater cooperation among stakeholders in Belize’s financial sector. The event also served as a milestone celebration of the Commission’s 25th anniversary, highlighting its role in regulating and promoting transparency within industry. Director of Operations at the FSC, Nilda Sosa, explained that this year’s focus is on deepening collaboration with industry partners and ensuring that financial service providers remain compliant with international standards. 

One of the featured presenters at the open day was the Belize High Seas Fisheries Department, who outlined the department’s critical role in managing and monitoring Belize’s high seas fishing fleet. Administrative Assistant, Janelle Requena, highlighted how the department works to ensure compliance with international maritime regulations.

The Financial Services Commission (FSC) is a statutory authority in Belize responsible for the regulation and supervision of the non-bank financial services sector.  The FSC is entrusted with the administration of several key acts, including the Financial Services Commission Act, 2023; the Securities Industry Act, 2021; and the Belize Companies Act, 2022.  A core part of the FSC’s mission is to protect investors from unfair, improper, or fraudulent practices, and to ensure that Belizean financial institutions adhere to international standards and best practices, particularly in the fight against tax evasion, money laundering, and terrorism financing.  The commission’s responsibilities have expanded to include acting as the regulatory authority for Non-Profit Organizations (NPOs) and Non-Governmental Organizations (NGOs), ensuring they comply with relevant laws and promote transparency and good governance.