Financial Services Commission Barbados

The Financial Services Commission (FSC) is your steadfast guardian in the non-bank financial sector of Barbados, ensuring everything from your occupational pension plans to your credit unions operate with integrity. Press play to discover how we proactively supervise, regulate, and act in your best interest. Together, we're building a fair, safe, and stable financial system. Follow our pages and stay tuned for insights, tips, and updates. Instagram: https://lnkd.in/gK5xTNtG Facebook: https://lnkd.in/gXrapr-6 LinkedIn: https://lnkd.in/gSxt_9cr X (Formerly Twitter): https://lnkd.in/gCB9nddD YouTube: https://lnkd.in/gVvpRujc #FSCBarbados #FinancialJourney #NonBankFinance #Transparency #PublicAccountability #Integrity #Excellence

We are proud to highlight three team members who have taken on new roles as Relationship Managers in the Supervision & Regulation Division: 1. Stuart Pollard has been with the FSC since its inception on April 1, 2011, bringing a wealth of experience from his previous roles, including Senior Examiner and acting Manager in multiple departments. 2. Jonathan Alleyne joined the FSC on October 3, 2016, and has excelled in various roles, including Analyst and Senior Analyst. He has also acted as Manager across several key areas in the Securities Department and Supervision & Regulation. 3. Paul Griffith has been a valued member of the FSC since March 1, 2012. His journey includes serving as Senior Analyst and acting as Insurance Manager on several occasions. Their dedication, expertise, and commitment to excellence continue to strengthen the FSC's mission of ensuring financial stability and growth. Congratulations to Stuart, Jonathan, and Paul on their new appointments! #TeamFSC #ExcellenceInLeadership #FSCBarbados #CareerMilestones

The deadline for the 2024 AML/CFT/CPF Risk Assessment of the General Insurance Sector is today – Friday, November 29, 2024. This questionnaire is vital for identifying risks and enhancing compliance within the sector. If you still need assistance, don’t hesitate to book a clinic with our team. Submit your response here: https://lnkd.in/eTjk_fQr #AML #CFT #Compliance #FSCBarbados

Please remember that the deadline for the 2024 AML/CFT/CPF Risk Assessment of the General Insurance Sector is tomorrow, Friday, November 29, 2024. This important questionnaire aims to: - Identify potential ML/TF/PF risks. - Provide a framework for regulatory improvements. - Offer guidance on mitigating measures to reduce sector risks. Need help? Book a clinic with our team for support. Complete the questionnaire here: https://lnkd.in/eTjk_fQr #AML #CFT #Compliance #FSCBarbados

Have You Identified a Suspicious Investment Scheme? The Financial Services Commission (FSC) relies on your reports to safeguard our financial community. If you come across any unregulated or high-risk investment schemes, please let us know. 📞 Contact us at: 1-246-421-2142 📧 Email: TCR@fsc.gov.bb Your proactive reporting helps us protect others from potential financial scams. Let's work together to ensure a secure financial environment. #ReportScams #ProtectOurCommunity #FSCBarbados #FinancialSecurity

Pyramid Schemes: A High-Risk Gamble You Can’t Afford to Take Participating in a pyramid scheme comes with significant risks: ➡️ Financial losses that impact your long-term goals. ➡️ Potential involvement with illicit funds, which can have serious legal implications. ➡️ Lack of regulation, leaving participants without recourse when things go wrong. Before committing to any investment, ask yourself: Is this opportunity legitimate? Is it regulated? Protect your hard-earned money by staying informed and cautious. #FSCBarbados #InvestmentRisks #FinancialSafety #SmartInvesting

Strengthening Leadership for the Future On Thursday, November 14, 2024, the Financial Services Commission hosted a dynamic workshop led by facilitators from the National Transformation Initiative at the Island Inn Hotel. This full-day training brought together our Executive Management and Board of Commissioners to explore key topics such as Corporate Governance, Managing Relationships, Legal Compliance, and Public Finance Management. The interactive sessions not only enhanced our understanding of governance principles but also underscored our commitment to fostering strong leadership within the FSC. #GovernanceMatters #LeadershipDevelopment #FSCBarbados #NationalTransformationInitiative

High Returns with Minimal Effort? Think Again. Promising high returns with little to no effort is a tactic often used by pyramid schemes to lure participants. While it might sound tempting, these ventures come with serious risks. 🔍 Key Points to Remember: 1️⃣ Legitimate investments are built on sustainable, long-term growth – not quick, unrealistic gains. 2️⃣ Pyramid schemes benefit a small group at the expense of others, often resulting in financial losses for most participants. 3️⃣ Before investing, always research thoroughly and look for red flags. Stay informed and protect your finances by recognising these warning signs. Your hard-earned money deserves real opportunities – not empty promises. #StaySafe #FinancialProtection #PyramidSchemeWarning #SmartInvesting

In this clip from the Global Business Week Conference 2024, CEO Warrick Ward discusses how economic uncertainty is prompting companies to explore captive insurance as a cost-effective risk management solution. #GlobalBusinessWeek2024 #CaptiveInsurance #FSCBarbados

Understanding the Risks: Pyramid Schemes vs. Traditional Sou-Sous Do you know the difference between a fraudulent pyramid scheme and a trusted Sou-Sou? Our latest blog breaks down the key differences, the risks involved, and what you should look out for to protect your finances. 📖 Read the full article here: https://lnkd.in/eA5gq-kg #FinancialAwareness #ConsumerProtection #FSCBarbados #SmartInvesting