Welcome To The Financial Services Regulatory Commission (FSRC)

National Risk Assessment | For Anti Money Laundering and the Financing of Terrorism (St. Kitts and Nevis 2019)

“As we stand on the brink of the third decade of the millennium, we find ourselves in the midst of an apparent barrage of ever-changing international imperatives and policies. What this translates to for small jurisdictions such as ours is the requirement for a multi Sectoral, consistent approach to financial integrity as well as the need to maintain security on virtually all levels.”

Honourable Vincent Byron Jr., Attorney General& Minister of Justice and Legal Affairs

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Featured : The Law Commission

The Law Commission is a statutory body created by The Law Commission Act No. 27 of 2012. The Commission is a body corporate and its membership is as follows: The Law Revision Commissioner/Law Reform Commissioner who shall be the Chairperson of the Commission along with one person nominated by the St. Kitts and Nevis Bar Association and three other persons appointed by the Minister responsible for Legal Affairs. The functional aspect of the Commission is carried out by the office of the Law Reform Commissioner operating under the aegis of the Ministry of Legal Affairs.

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General Notice | 28th May 2020

The Financial Services Regulatory Commission (FSRC) - St. Kitts Branch wishes to remind you of the required documents which are to be submitted at the end of your entity's financial year:

1. The Reporting Forms as outlined in Section 19 of the Financial Services (Trust and Corporate Business) (FSTCB) Regulations, No. 3 of 2019, include the following:

   1. Audited financial statements are to be submitted for the legal person;
   2. Audited financial statements are to be submitted for the natural person with revenue in excess of EC$50,000 and 
   3. The Reporting Forms as set out in Schedule 3 are to be submitted for the natural person with revenue of EC$50,000 or less.
2. A Certificate of Compliance in accordance with the following legislation:
   1. Regulation 3 of the Financial Services (Implementation of Industry Standards) Regulations (FSR), No. 51 of 2011, which states that "Regulated Entities carrying on financial services business are required to submit a Certificate of Compliance with anti-money laundering regulations on an annual basis together with their audited financial statements." An example can be found in Appendix L of the FSR.
   2. Section 19(c) of the FSTCB Regulations, No. 3 of 19 which states: "The Certificate of Compliance should be issued by an independent auditor to verify that its business is in accordance with the information provided during  the application process and the AML/CFT Lawas and Regulations of St. Kitts and Nevis."
3. Annual Reports on compliance with anti-money laundering and anti-terrorism regulations in accordance Regulation 116 of the FSR.

Please be guided accordingly.