The Belize International Financial Services Commission was established in 1999. It’s range of powers covers oversight of the activities in the non-banking sector. Its membership includes representatives of the public sector, as well as of private commercial business.
The financial market regulations conducted by the IFSC can be roughly divided into two parts:
This division excludes mistakes and conflicts of interest between the members. IFSC Belize is also known as a loyal regulator that does not seek to gain total control, giving their related members considerable latitude and personal space.
IFSC Essential Functions:
If we look at the above mentioned functions and compare them to those of the MiFiD Regulator, for example, it will be obvious that the International Financial Services Commission is more of a subsidiary agency that does not perform any overstrict supervision. It does not exist for the purpose of administration of any harsh and biting sanctions, Rather on the contrary, it shows unparalleled tolerant attitude when it comes to the origin of brokers’ capital and the transactions they perform.
Insider Tips: Belize is an active member of full standing of the Caribbean Financial Action Task Force (CFATF), and thus it follows its requirements aimed at avoiding and protection from ‘white-washing’ and ensuring itself a stabile position in the international financial system.