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A Message From The Chairman

Welcome to the website of the Turks & Caicos Islands Financial Services Commission, the single licensing and regulatory body for the financial services sector in the TCI. The Commission has operational autonomy and a direct reporting link to the Governor, which acts to reinforce its independence from political or commercial interests.

Mr Errol Allen, Chairman

The Commission is governed by a Board of Directors, appointed by the Governor, and made up of individuals with extensive expertise in financial services and regulatory matters, both domestically and internationally. The Board is charged with establishing the Commission’s policy framework and overseeing its implementation.

The Commission seeks to safeguard the interests of persons conducting business with licenced financial institutions in the Islands. To that end, it ensures that licencees operate in accordance with best international standards, including having adequate expertise and financial resources, effective controls, prudent risk management, and the treatment of clients with integrity. It is through the enforcement of such standards that trust between providers and users of financial services can best be promoted and the reputation of the jurisdiction further developed, in the interests of all of the TCI’s stakeholders.

The Commission is firmly committed to openness and transparency, wherever that is not incompatible with statutory constraints or commercial confidentiality. It also works hard to build relationships with licencees and other stakeholders, including through extensive dialogue and consultation. I would, therefore, encourage users of our financial services to make full use of this site in enhancing understanding of the regulatory environment and licenced sectors in the TCI. We very much welcome comments or feedback, either on general matters or specific concerns you may have at any time.

Errol Allen