Being Regulated
FSC Regulated Activity handbooks
The Financial Supervision Commission aims to provide a framework of regulation and supervision within which licensed institutions can compete and develop their businesses. The legislation and guidance seek to maintain high international standards and a clear, sound and stable framework, so as to provide a firm basis for the confidence of depositors and investors.
Between 1st August 2008 and 31st December 2008 different supervisory legislation applies for licenceholders:
- That were licenceholders at 31st July 2008 – PRE1.8.08 licenceholders; or
- Became licenceholders on or after 1st August 2008 – POST-1.8.08 licenceholders.
The following links will take you to the legislation and guidance that is relevant to each type of licenceholder.
- PRE-1.8.08 licenceholders - Licenceholders holding licences issued before 1st August 2008 will be regulated under pre 2008 legislation (Codes, Regulations, etc) until 31st December 2008, except for requirements relating to anti money laundering. Please see PRE-1.8.08 licenceholders area of the website.
- POST-1.8.08 licenceholders - Licenceholders holding licences issued on or after 1st August 2008 are regulated under the Financial Services Act 2008 (and Collective investment Schemes Act 2008 if applicable) and all subordinate legislation of these Act(s) from 1st August 2008. Please see POST-1.8.08 licenceholders area of the website.
- ALL licenceholders – With effect from 1st August 2008, the following matters apply to both PRE-1.8.08 and POST-1.8.08 licenceholders:
With effect from 1st January 2009, the Financial Services Act 2008 (and Collective investment Schemes Act 2008 if applicable) and all subordinate legislation of the Act(s) will apply to ALL licenceholders.
Please note that this page will be revised for January 2009 to remove references to superseded legislation and guidance.
Anti Money Laundering & Countering the Financing of Terrorism
The Anti Money Laundering & Countering the Financing of Terrorism pages summarise what is money laundering and what is terrorist financing, as well as providing links to AMLCFT legislation, guidance, and links to relevant websites elsewhere.
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