Mandates

The mandate of the FSU stems from the FSU Act (PDF, 83.14 KB) which gives it responsibility to monitor financial institutions operating in Dominica, take action against persons carrying on unlicensed financial services business, supervise licensees in accordance with the FSU Act and the financial services enactments, and administer the financial services enactments or any other relevant enactments.

The following financial services enactments are listed in Schedule I of the FSU Act:

• Building Societies Act (Chap 31:60) (PDF, 770.9 KB)
• Co-operative Societies Act (No. 2 of 2011) (PDF, 392.66 KB)
• Dominica Agricultural, Industrial and Development Bank Act (Chap.74:03) (PDF, 986.65 KB)
• Exempt Insurance Act (No. 14 of 1997) (PDF, 536.88 KB)
• International Exempt Trust Act (No. 10 of 1997) (PDF, 736.41 KB)
• International Business Companies Act (No. 10 of 1996) (PDF, 1.96 MB)
• Offshore Banking Act (No. 8 of 1996) (PDF, 1.11 MB)

The following financial institutions falling under the purview of the Unit are listed in Schedule II of the FSU Act:

• Building Societies as defined by the Building Societies Act (PDF, 770.9 KB)
• Credit Unions as defined by the Co-operative Societies act (PDF, 392.66 KB)
• Development Banks
• Exempt Insurance Companies as defined by the Exempt Insurance Act (PDF, 536.88 KB)
• International Trusts as defined by the Exempt Trust Act (PDF, 736.41 KB)
• Insurance Companies
• Money Transfer Companies
• Offshore Banks as defined by the Offshore Banking Act (PDF, 1.11 MB)