Financial Crime World

Regulatory Framework Ensures Compliance in French Polynesia’s Financial Sector

Introduction

The financial regulator of French Polynesia, the Financial Regulator of French Polynesia (FPFSA), has been at the forefront of regulating and supervising entities within the country’s financial sector since its inception on November 12, 2008. Established under the FPFSA Law, the unified regulatory body has streamlined functions and enhanced operational efficiency by amalgamating three different regulatory authorities.

Key Responsibilities

  • Regulate and supervise both international financial institutions and local non-financial institutions within French Polynesia
  • Enforce compliance with legislative provisions and regulatory acts under the jurisdiction of the government of French Polynesia
  • Protect the interests of clients by intervening as necessary in the affairs of regulated institutions
  • Facilitate the registration process for international companies, limited liability companies, and international trusts within one working day

Effective Management and Financial Stability

FPFSA operates under the guidance of a board of directors, ensuring effective management and financial stability of licensed financial institutions.

Registration Process Facilitation

The FPFSA facilitates the registration process for international companies, limited liability companies, and international trusts within one working day, providing prompt services through registered agents and trustees operating in accordance with licenses and regulatory provisions.

Dissemination of Information

FPFSA actively disseminates timely and accurate data on international initiatives affecting the financial sector. The body serves as the designated representative of the Ministry of Finance in various international initiatives, including participation in the OECD.

Efforts Against Fraudulent Organizations

While FPFSA has regulatory powers to ensure compliance within the financial sector, specific measures taken against fraudulent organizations such as forex brokers or efforts to freeze accounts to assist victims are not detailed in this overview. For complete information on these measures, official reports or statements from the body may provide more specific details.