Dominica’s Financial Regulatory Body: A Beacon of Excellence in the Caribbean

The Commonwealth of Dominica’s Financial Services Unit (FSU) has established itself as a model of excellence in the Caribbean, serving as the sole regulatory authority for the island nation’s financial sectors. In an exclusive interview with Claudius Lestrade, Director of the FSU, we shed light on the agency’s crucial role and its commitment to maintaining high standards of financial regulation and supervision.

Regulatory Responsibilities

As an affiliate of the Ministry of Finance, the FSU oversees various financial sectors, including:

Credit unions
Insurance companies
Offshore banks
Money service businesses
Development bank
Buildings and loans societies
Gaming companies
Other financial entities

In addition to its regulatory role, the FSU also serves as the Money Laundering Supervisory Authority (MLSA), ensuring the integrity of Dominica’s financial system.

Experienced Team

The FSU boasts a team of experienced professionals who work tirelessly to regulate and supervise the entire financial services sector in Dominica. The agency is responsible for:

Supervising and regulating all other financial institutions within its scope
Creating a robust and secure financial environment for residents and investors

Aim for Regulatory Excellence

“Under the auspices of the Ministry of Finance, our team at the Financial Services Unit consists of experienced professionals dedicated to regulating and supervising the entire Financial Services Sector in Dominica,” Lestrade emphasized. “Our aim is to create a regulatory climate that fosters growth and innovation while maintaining the higher standards necessary for financial compliance and security.”

The FSU’s commitment to excellence has earned it recognition across the Caribbean as a model of best practices in financial regulation.