The objectives of the FSU are spelt out in Section 4 of the FSU Act, 18 of 2008 (PDF 83.14KB), as follows:

The objectives of the Unit are to:-

• Maintain the public’s confidence in the financial system;
• Facilitate the deterrence of financial crimes;
• Supervise financial services licensees in accordance with legislation, regulations and codes;
• Ensure periodic evaluation of the legislative and regulatory framework in accordance with developments in the financial services sector;
• Promote best practices, mutual assistance and exchange of information by maintaining contact and forging relations with foreign regulatory authorities, international associations of regulatory authority bodies or groups relevant to its functions;
• Facilitate the development of the financial services sector.

The Financial Services Unit Act, 18 of 2008, (PDF 83.14KB) was passed in the House of Assembly on 14 October, 2008, Gazetted on 18 December, 2008 and came into force on 1 January, 2009. This Act formally established the Financial Services Unit as a regulatory authority.

• We respect and value each other as colleagues.
• We work efficiently and effectively.
• We operate with integrity and transparency.
• We foster an internationally competitive and successful financial services industry.
• We act in the best interests of consumers of financial services.
• We attach primacy to the public interest.

Under Section 5 of the FSU Act (PDF, 83.14 KB), the Director of the Unit is responsible for the administration of that Act.