Financial Crime World

The Financial Regulator of French Polynesia: A Key Role in Regulating the Financial Sector

The Financial Regulator of French Polynesia (FPFSA) plays a crucial role in regulating and supervising specific entities within the financial sector of French Polynesia. Created in November 2008 under Law FPFSA, this unique regulatory authority merged three distinct regulatory bodies to optimize functions and improve operational efficiency.

Objective and Powers

The main objective of the FPFSA is to regulate and supervise both international financial institutions and local non-financial entities in French Polynesia. The powers of the FPFSA are defined by Law FPFSA No. 33 of 2011, and the organization operates under the control of the government of French Polynesia, ensuring compliance with legislative and regulatory provisions.

Functions

The FPFSA operates under the direction of a board of directors and ensures the proper functioning and financial stability of licensed financial institutions. When necessary, it intervenes to protect client interests and has the authority to intervene in the affairs of regulated institutions.

  • Facilitates the registration process for international companies, limited liability companies, and international trusts within one working day
  • Provides rapid services through authorized agents and trustees operating in accordance with licenses and regulatory provisions

International Initiatives

The FPFSA disseminates real-time information on international initiatives affecting the financial sector. It acts as a designated representative of the Ministry of Finance in various international initiatives, including participation in the OECD.

Regulatory Measures

While it is important to highlight the regulatory powers of the FPFSA, specific measures taken against fraudulent organizations, such as foreign exchange brokers, or efforts to block accounts to assist victims are not mentioned. To obtain complete information on the measures taken by the FPFSA against fraudulent organizations, official reports or statements from the organization can be consulted.