Turks and Caicos Islands Financial Services Commission

Board Of Commissioners

The Board of Commissioners of the Commission is constituted under Section 5 of the Financial Services Commission Ordinance 2007 and consists of seven members, two of whom (the Managing Director and the Permanent Secretary of Finance) are ex officio.

The functions of the Board of the Commission are detailed in section 6 of the Financial Services Commission Ordinance 2007.

The Board is the governing body of the Commission and its principal functions are –

to establish the policy of the Commission and monitor and oversee its implementation;

to monitor and oversee the management of the Commission by the Managing Director with the objective of ensuring that –

the resources of the Commission are utilised economically and efficiently;
adequate internal financial and management controls are in place;
the Commission is operated in accordance with principles of good governance; and
the Commission fulfils its statutory obligations and properly discharges its functions;

to approve the financial estimates of the Commission for submission to Governor in Cabinet;

to approve the Commission’s financial statements and to appoint a suitably qualified person to audit the Commission’s financial statements; and

to appoint the Commission’s senior officers, except for the managing director, including the Registrar of Companies.

In establishing the policy of the Commission, the Board shall have regard to such general directions as may be given to the Commission by the Governor in writing.

Correspondence to Board of Commissioners can be emailed to: Boardofcommissioners@tcifsc.tc