Financial Services Regulatory Authority
REGULATED FIRMS
Regulated firms are subject to the requirements of applicable Ordinances and Regulations enacted by the government. They are also subject to Directives and guidance issued by the FSRA.
In addition, the Financial Services Ordinance gives the FSRA wide-ranging powers to intervene in the operation of a non-compliant firm, including the power to impose conditions on, or to revoke, its licence to do business.
Ordinances and Regulations
Directives and Guidance
Ordinances and Regulations
Rules and guidance
Financial services businesses are licensed and regulated under the Financial Services Ordinance 2008. The Ordinance can be found here:
In addition, in the conduct of their regulated activities financial services businesses are subject to the Money Laundering Ordinance 2008. The Ordinance can be found here:
The Money Laundering Regulatory Authority
The Money Laundering Regulatory Authority was established by the Money Laundering Ordinance 2008.
The MLRA is comprised of the Financial Services Supervisor (who is its chair), and a further four individuals, representing the Financial Secretary, the Atorney General, the Police Service and the Customs Service.
The Money Laundering Ordinance 2008 gives the MLRA powers to investigate suspected financial crimes, and to take enforcement and other legal action against perpetrators.
Directives
Business Standards
Anti-Money Laundering
Prudential Standards
- Directive on Risk Weights for Banks.pdf
- Directive on Liquid Assets for Banks.pdf
- Second Directive on Risk Weights for Banks.pdf
- Directive on Financial Resources Adequacy.pdf
- Directive on Liquidity Risk Management.pdf
- Directive on Financial Reporting Standards for Banks.pdf
- Directive on Reporting for Banks.pdf