St. Vincent and the Grenadines Financial Services Authority (FSA)

Basic Information

The Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) is the primary regulatory body overseeing non-bank financial services and international financial activities within the jurisdiction. Established on November 12, 2012, under the Financial Services Authority Act No. 33 of 2011, it operates as an autonomous statutory body accountable to the SVG government. The agency consolidates regulatory functions previously managed by multiple entities, including the International Financial Services Authority (IFSA) and divisions within the Ministry of Finance, to streamline oversight and enhance compliance with global standards.

Historical Background

The SVG FSA was created to unify and modernize the regulation of SVG’s financial sector, merging three legacy regulatory bodies into a single authority. This restructuring aimed to improve operational efficiency, align with international best practices, and bolster SVG’s reputation as a credible offshore financial hub. Over the years, the FSA has expanded its mandate to include emerging sectors like virtual asset service providers (VASPs), reflecting its adaptive regulatory framework.

Legal Authority and Regulatory Framework

The FSA derives its authority from the Financial Services Authority Act (2011), which empowers it to enforce compliance with domestic and international financial laws. Key legislation under its purview includes:

• The Proceeds of Crime Act (2013)
• Anti-Money Laundering and Terrorist Financing Regulations (2014)
• Money Services Business Act (2022)
• International Business Companies Act

The agency also adheres to guidelines from international bodies such as the FATF, OECD, and CFATF, ensuring alignment with AML/CFT standards and tax transparency initiatives.

Core Responsibilities and Regulatory Scope

The SVG FSA supervises a diverse range of entities, including:

• Credit unions, insurance companies, and pension funds
• Money service businesses (MSBs) and remittance providers
• International business companies (IBCs) and trusts
• Virtual asset service providers (VASPs)

Notably, the FSA does not directly regulate forex brokers or oversee forex trading activities. While IBCs may engage in forex operations, the FSA’s role is limited to ensuring compliance with corporate obligations under the IBC Act, not market conduct or consumer protection.

Verification of Regulated Entities

To confirm whether an entity is regulated by the SVG FSA:

1. Visit the official portal: https://fsasvg.com
2. Navigate to the “Licensed Financial Institutions” section.
3. Use browser search (Ctrl+F) to locate specific entities by name.

Note: The FSA does not publish lists of forex brokers or IBCs, as these fall outside its direct supervisory scope. For IBC-related inquiries, contact licensed registered agents listed on the FSA website.

Contact Information

Headquarters Address:
Financial Services Authority,
2nd Floor, Reigate Building,
P.O. Box 356, Granby Street,
Kingstown, St. Vincent and the Grenadines.

Communication Channels:

• Phone: +1 (784) 456-2577
• Fax: +1 (784) 457-2568
• Email: [email protected]