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Financial Regulatory Bodies in Antigua and Barbuda

The financial regulatory bodies in Antigua and Barbuda play a crucial role in maintaining the stability and integrity of the country’s financial system. These institutions are responsible for regulating and supervising various sectors, including banking, insurance, securities, and investment.

Primary Regulators

Financial Services Regulatory Commission (FSRC)

The FSRC is the primary regulator of the non-banking sector, including:

  • Insurance companies
  • Pension funds
  • Mutual funds

The FSRC ensures that these institutions operate within the law and maintain high standards of governance and risk management.

Central Bank of Antigua and Barbuda

The Central Bank regulates and supervises the banking sector, including:

  • Commercial banks
  • Merchant banks
  • Foreign exchange dealers

The Central Bank maintains the stability of the country’s financial system, regulates the money supply, and ensures that banks operate in a safe and sound manner.

Other Regulatory Bodies

International Financial Services Commission (IFSC)

The IFSC regulates international business companies and other offshore entities.

Antigua and Barbuda Securities and Investment Authority

This authority regulates the securities industry.

Statutory Bodies

Antigua Public Utilities Authority

This authority regulates public utilities such as:

  • Telecommunications
  • Electricity

Merchant Shipping and Shipping Registration

This body regulates the shipping industry.

Social Security Scheme

The Antigua and Barbuda Social Security Scheme provides social security benefits to citizens and residents, funded by contributions from employers and employees. It plays an important role in supporting the country’s pension system.

Conclusion

The financial regulatory bodies in Antigua and Barbuda work together to maintain the stability and integrity of the country’s financial system. They play a critical role in ensuring that financial institutions operate within the law and maintain high standards of governance and risk management.