According to the Financial Services Authority Act, Saint Vincent and the Grenadines’ Financial Services Authority (FSA) was established on November 12, 2012. It was established by Parliament with the goal of governing, overseeing, and expanding the nation’s non-bank financial services industry.
The FSA’s responsibility is to provide for regulated matters while also supervising specific organisations and businesses in the financial industry.
The administration and enforcement of the laws listed under the FSA’s governing legislation are the responsibility of the FSA to the Government of St. Vincent and the Grenadines. It is also in charge of verifying the correct management and continued financial stability of each licenced financial organisation. The FSA has the authority to get involved in a regulated entity’s business in order to safeguard its clients.