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Saint Kitts and Nevis Steps Up Financial Market Regulation with Enhanced Oversight

The government of Saint Christopher and Nevis has taken significant strides in strengthening financial market regulation and oversight, aimed at maintaining stability and confidence in the country’s economy. At the forefront of this effort is the Financial Services Regulatory Commission (FSRC), a statutory body responsible for regulating and supervising non-bank financial institutions.

The FSRC Governing Body

The FSRC’s governing body comprises six members, led by:

Mrs. Hilary Hazel, Financial Secretary of Saint Christopher and Chairperson of the Commission
Mr. Colin Dore, Permanent Secretary in the Ministry responsible for Finance in Nevis and Deputy Chairperson
Ms. Rhonda Nisbett-Browne, Representative nominated by the Minister responsible for Finance in Nevis
Mr. Kennedy Byron, Representative nominated by the Governor of the Eastern Caribbean Central Bank

FSRC’s Mandate

The Commission’s efforts are focused on maintaining a stable financial environment through effective regulation and supervision of:

Insurance companies
Credit unions
Investment businesses
Other non-bank financial institutions

The FSRC also works closely with the Financial Intelligence Unit (FIU) to combat money laundering and terrorist financing.

Accessible Information

The Commission’s website provides access to valuable information for:

Regulated entities
Service providers
The general public, including:
- A law library
- Lists of regulated entities
- Insurance services
Updates on key developments and initiatives in the financial sector, keeping stakeholders informed about the latest regulatory requirements and best practices.

Commitment to Financial Market Stability

Through its enhanced oversight and regulation, the FSRC is committed to:

Promoting confidence in Saint Kitts and Nevis’ financial markets
Attracting foreign investment
Ensuring the continued growth of the country’s economy