Friday, July 19, 2024

The Financial Services Commission (FSC) Is Granted Membership Approval Into The Caribbean Group Of Securities Regulators (CGSR)

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The FSC has achieved a significant milestone by securing membership in the CGSR, a direct outcome of the Council of the Securities Regulators of America (COSRA) meeting that was initiated in 2002. COSRA, representing the securities regulators of Barbados, the Bahamas, the Eastern Caribbean, Jamaica, and the Republic of Trinidad and Tobago, birthed the CGSR as a dynamic platform for regional collaboration to discuss and resolve regulatory issues amongst Member States. Additionally, the CGSR serves as a pivotal forum for mutual exchange among its Member States, fostering cross-border information sharing and jurisdictional capacity building. As a member of the CGSR, the FSC will become a signatory to the CGSR’s Multilateral Memorandum of Understanding (MMOU) that aims to facilitate cooperation in the conduct of the regulatory and supervisory functions as outlined in both the respective domestic legislations (of members) and the standards set out by the International Organization of Securities Commissions (IOSCO).
The FSC’s integration into the CGSR not only solidifies its position as a forward-thinking regulatory authority but also paves the path for collaborative advancements and underscores its dedication to elevating Belize’s securities regulation standards and its commitment to establish a robust regulatory environment for both consumers and investors.

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