Posted: Monday January 3, 2022. 3:51 PM CST.
By Rubén Morales Iglesias: International Financial Services Commission (IFSC) changes name to Financial Services Commission (FSC) and expands portfolio, says Press release Released by the Belize Government Press Office.
The FSC said it is committed to developing Belize’s financial services sector so that companies “can do and promote good business.”
The IFSC, established in 1999, was responsible for protecting and enhancing Belize’s reputation as an international center for financial services. It was also responsible for regulating the provision of international financial services.
In accordance with the law on the securities sector, which entered into force on January 1, 2022, the Financial Services Commission will now also be responsible, according to the press release, for:
– Facilitate capital formation and economic growth
– Protect investors against unfair, inappropriate or fraudulent practices
– Foster the development of fair and efficient capital markets and confidence in the capital markets within or within Belize
– Reduce systemic risk
– Promote public understanding of the financial system, including awareness of the benefits and risks of different types of investment or other financial activities
The statement said the FSC, along with its stakeholders, will “deepen” Belize’s financial system and provide “Belizeans with additional opportunities for safe investment and wealth creation.”
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