With the passage of the Securities Industry Act, 2021, the former International Financial Services Commission (IFSC) was transformed into the Financial Services Commission (FSC) and given the additional responsibility for administration of the SIA, which includes licensing, supervising, and regulating the securities industry in Belize. In addition, with the enactment of the Belize Companies Act, 2022, the FSC was further entrusted with the responsibility for the Belize Companies and Corporate Affairs Registry (BCCAR).
The FSC is committed to international standards and best practices in the regulation and supervision of non-bank financial services. The FSC falls under the portfolio responsibility of the Minister of Finance and is governed by a Board of Commissioners comprising of the Chairman and 8 other Commissioners, including the Director General of the FSC. The Minister appoints the chairperson from amongst the 5 public sector members of the Board, as well as the other Commissioners, save for the Director General who is appointed by the Board on the approval of the Minister. The current Chairman is the Financial Secretary. The Director General is the Chief Executive Officer and the ex-officio Deputy Chairman of the FSC and also serves as the Registrar of the following Registries:
- Belize Companies and Corporate Affairs Registry
- International Merchant Marine Registry of Belize
- Limited Liability Partnerships Registry
- International Trusts Registry
- International Foundations Registry
- International Limited Liability Companies Registry
In fulfilling its mandate and carrying-out its core functions the FSC is committed to ensuring that Belize remain a thriving, competitive, safe and sound jurisdiction from which firms and individuals of substance and good reputation can conduct good business. To this end, the FSC works collaboratively with industry partners, as well as with local, regional, and international partners in achieving these objectives.