ST JOHN’S, Antigua -- The Financial Services Regulatory Commission in Antigua and Barbuda has moved to ensure that its image as a reputable institution staffed with professional, highly skilled personnel remains intact.

The Board of Directors of the Commission in conjunction with the Ministry of Finance, under whose portfolio the Commission falls, said it has taken a decision to launch a thorough investigation into the regulatory regime and administrative procedures of the institution.

This investigation has already commenced and will be broadened as assistance which has been sought from the Caribbean Financial Action Task Force is received. The objective is to ensure that, at the end of this exercise, the Commission will emerge as a stronger Single Regulatory Unit which will effectively service Non-bank financial institutions, the domestic insurance sector, the interactive gaming and wagering sector and the international business sector.

Recent global events have undoubtedly posed a challenge for all regulatory authorities concerned with supervision of entities within the financial services sector.  For its part, the Financial Services Regulatory Commission of Antigua and Barbuda said it continues to approach the challenges before it as an opportunity for continued growth and improvement while remaining vigilant to ensure that Antigua and Barbuda is positioned to meet and exceed the highest regulatory standards locally, regionally and globally.

The Commission said takes seriously its role as regulator of the international financial sector. It is the Board’s intention to utilize every available resource to secure the continued repose of public confidence in the Commission.