Saint Kitts and Nevis Strengthens Financial Crime Prevention

Effective Regulation and Supervision of Financial Services Providers

The Financial Services Regulatory Commission (FSRC) is the primary authority responsible for regulating anti-money laundering activities in Saint Kitts and Nevis. This regulatory body oversees all financial services providers, except those covered by the Banking Act, to ensure a robust framework for preventing financial crime.

Key Responsibilities of the FSRC

• Oversees all financial services providers to prevent financial crime
• Divided into two operational departments: one based in Saint Kitts and the other in Nevis
• Ensures compliance with strict guidelines and regulations through licensing and monitoring activities

The Nevis Financial Services Regulation and Supervision Department

The Nevis Financial Services Regulation and Supervision Department serves as the local branch of the FSRC, responsible for:

Key Functions

• Granting licenses to companies and individuals offering financial services
• Monitoring regulated activities to safeguard citizens from unauthorized financial operations within or originating from Nevis
• Ensuring that all entities operating in Nevis adhere to strict guidelines and regulations

Additional Responsibilities of the Nevis Branch of the FSRC

In addition to its regulatory role, the Nevis Branch of the FSRC is also responsible for:

Key Responsibilities

• Company registration through the Corporate Registry
• Overseeing the formation of international trusts, foundations, and insurance companies