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IFSC

International Financial Services Commission

The International Financial Services Commission Belize (IFSC) is an independent regulatory agency that was established in 1999 under the International Financial Services Commission Act. Its primary objective is to regulate and supervise the provision of financial services in and from Belize to ensure the integrity, stability, and reputation of the Belizean financial system. The IFSC operates under the auspices of the Belize Ministry of Finance.

IFSC - International Financial Services Commission Belize

 

Since its establishment, the IFSC has undergone several changes to enhance its regulatory framework and keep pace with international standards. In 2007, the IFSC became a member of the International Organization of Securities Commissions (IOSCO), a global body that sets standards for securities regulation. In 2016, the IFSC updated its regulatory framework to align with international best practices.

Functions and Responsibilities of the IFSC
The IFSC has several functions and responsibilities aimed at ensuring the integrity of the financial sector in Belize. These include:

  1. Licensing and Regulation of Financial Institutions
    The IFSC is responsible for issuing licenses to financial institutions that wish to operate in Belize.
  2. Supervision and Monitoring of Financial Institutions
    Once licensed, financial institutions are subject to ongoing supervision and monitoring by the IFSC.
  3. Enforcement and Compliance of Financial Institutions
    The IFSC has the power to take enforcement action against financial institutions that violate regulatory requirements. This includes the imposition of fines, revocation of licenses, and referral of cases to law enforcement agencies for criminal prosecution.
  4. Investor Protection
    The IFSC is responsible for ensuring the protection of investors in Belize. This includes the regulation of financial products and services to ensure that they are fair, transparent, and safe for investors. The

Want to know more about IFSC, visit the Wikipedia site or IFSC’s official website

Forex brokers under IFSC of Belize regulation

 

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