Our services
ABOUT US
OUR MISSION
To uphold the integrity of the islands as a well-regulated destination for financial services businesses, by:
- protecting the interests of consumers
- ensuring that regulated firms comply with the law and international standards
- adopting a zero tolerance approach to money laundering and other forms of financial crime
How we operate
Our overall purpose is to regulate the financial services industry in St Helena, Ascension and Tristan da Cunha.
We have three core functions:
Authorisation
We welcome new entrants to our markets, especially those providing new financial products that serve the needs of consumers.
We aim to deliver a user-friendly and efficient authorisation process. We work collaboratively with potential new entrants to the markets to ensure that we have a proper understanding of each entrant's business and that they have a clear understanding of the standards expected of regulated firms.
Supervision
We supervise regulated firms from both a conduct of business and prudential regulatory perspective. We maintain a continuous dialogue with our regulated firms, and conduct periodic onsite inspections of them.
Enforcement
We provide guidance to regulated firms on the application of our rules and our licensing perimeter, in order to facilitate their compliance. However, where we identify matters of serious non-compliance, we will use our enforcement powers in order to incentivize future compliance and as a deterrent.