• Covid-19
  • Travel Protocols
  • Immigration & Customs Form
Saturday, May 31, 2025
SKNIS
  • Home
  • About
  • Press Releases
  • Parliament
  • In The News
  • Bills
No Result
View All Result
SKNIS
No Result
View All Result
Home Featured

FINANCIAL SERVICES REGULATORY COMMISSION CONTINUES TO ENSURE NGOs DEMONSTRATE ACCOUNTABILITY AND TRANSPARENCY  

by
February 6, 2020
in Featured, In The News
FINANCIAL SERVICES REGULATORY COMMISSION CONTINUES TO ENSURE NGOs DEMONSTRATE ACCOUNTABILITY AND TRANSPARENCY   
Share on FacebookShare on Twitter

Related posts

SAINT KITTS AND NEVIS HONOURS CENTENARIANS FOR THEIR LIFELONG CONTRIBUTIONS

SAINT KITTS AND NEVIS HONOURS CENTENARIANS FOR THEIR LIFELONG CONTRIBUTIONS

May 31, 2025
SAINT KITTS AND NEVIS APPLAUDED FOR HOSTING LANDMARK GLOBAL SUSTAINABLE ISLANDS SUMMIT

SAINT KITTS AND NEVIS APPLAUDED FOR HOSTING LANDMARK GLOBAL SUSTAINABLE ISLANDS SUMMIT

May 30, 2025
Basseterre, St. Kitts, February 06, 2020 (SKNIS): The Financial Services Regulatory Commission (FSRC) continues to ensure that Non-Governmental Organizations (NGOs) in St. Kitts and Nevis undergo inspection in keeping with international standards and best practices, and operate with accountability and transparency.

“Accountability and transparency, that’s really what it boils down to at the end of the day,” said Renee Gumbs, Registrar of Companies and Registrar of NGOs, while appearing on “Working for You” on February 05. “At the FSRC, record-keeping, proper accounting, those are the hallmarks of good governance. We are trying to ensure that we bring in all of these NGOs and ensure that they are monitored and regulated.”

She noted that monitoring takes the form of an inspection of the organizations’ day-to-day operations.

“Monitoring is done through onsite inspection. The onsite inspection would entail looking at the operations, funding, the financial statement, and identifying deficiencies in the operations and making recommendations as to how you would improve on your deficiencies,” she said.  “For Financial Action Task Force (FATF) purposes, really it is looking at the financial aspect and ensuring that what you would have said… can be proven.”

Shirmel Harris-Edwards, Financial Inspector, added that the FSRC prides itself on ensuring that persons who lead the NGOs meet a certain standard.

“We always look for due diligence checks that are conducted on the directors or anyone who holds a managerial position at these NGOs to ensure that you know them,” she said.

The FSRC was established under the Financial Services Regulatory Commission Act, No. 22 of 2009 to regulate the non-bank financial sector.

The FSRC is responsible for regulating/supervising several entities including insurance companies (domestic and captive); private pension plans; money services businesses; credit unions; the Development Bank of St. Kitts and Nevis, and trust and corporate service providers. Also, the FSRC monitors compliance of all regulated businesses and activities with Anti-Money Laundering and Counter Financing of Terrorism Legislation. The FSRC also houses the Companies, Trusts, Foundations, Limited Partnerships and Non-Governmental Organization Registries.

Previous Post

St. Kitts Music Festival Release Party, 2020 Artistes Program

Next Post

MINISTER OF AGRICULTURE SHEDS LIGHT ON ADVERSE IMPACT OF LIVESTOCK DEATH ON ECONOMY

Next Post
MINISTER OF AGRICULTURE SHEDS LIGHT ON ADVERSE IMPACT OF LIVESTOCK DEATH ON ECONOMY

MINISTER OF AGRICULTURE SHEDS LIGHT ON ADVERSE IMPACT OF LIVESTOCK DEATH ON ECONOMY

WHAT'S HOT

SAINT KITTS AND NEVIS HONOURS CENTENARIANS FOR THEIR LIFELONG CONTRIBUTIONS

SAINT KITTS AND NEVIS HONOURS CENTENARIANS FOR THEIR LIFELONG CONTRIBUTIONS

May 31, 2025
SAINT KITTS AND NEVIS APPLAUDED FOR HOSTING LANDMARK GLOBAL SUSTAINABLE ISLANDS SUMMIT

SAINT KITTS AND NEVIS APPLAUDED FOR HOSTING LANDMARK GLOBAL SUSTAINABLE ISLANDS SUMMIT

May 30, 2025
SRSP RECEIVES EC$16,000 SPONSORSHIP CHEQUE TO ENHANCE ROAD SAFETY AND LAUNCH PUBLIC EDUCATION SERIES

SRSP RECEIVES EC$16,000 SPONSORSHIP CHEQUE TO ENHANCE ROAD SAFETY AND LAUNCH PUBLIC EDUCATION SERIES

May 30, 2025

BROWSE BY CATEGORIES

  • 2025
  • Attorney General, Ministry of Justice and Legal Affairs
  • Bills
  • Featured
  • Featured Ministry
  • Government Projects
  • Home Page Slider
  • In Focus
  • In The News
  • Interviews
  • Minister of Agriculture, Fisheries and Marine Resources; Cooperatives; Entrepreneurship and Creative Economy
  • Ministry of Education, Youth; Social Development; Gender Affairs; Aging and Disabilities
  • Ministry of Foreign Affairs, International Trade, Industry and Commerce and Consumer Affairs; Economic Development and Investment
  • Ministry of Public Infrastructure, Energy and Utilities; Domestic Transport; Information, Communication and Technology; and Posts
  • Ministry of Sustainable Development, Environment; Climate Action and Constituency Empowerment
  • Ministry of Tourism, Civil Aviation; International Transport; Employment and Labour; Urban Development
  • Notices
  • Parliament
  • PMO Press Releases
  • Press Conferences
  • Press Releases
  • Prime Ministers Office, Ministry of Finance; National Security; Citizenship and Immigration; Health and Social Security
  • Register of Voters
  • Round Table
  • The Cabinet Secretariat, Cabinet Secteatry
  • Uncategorized

LIKE US ON FACEBOOK

Facebook Pagelike Widget

LOCATION

St. Kitts Nevis Information Service
Government Headquarters
Chruch Street
Basseterre
St. Kitts
Tel:(869)467-1416

FOLLOW US

  • Government of St. Kitts & Nevis

© 2020 St. Kitts & Nevis Information Service. Developed by E-Government Unit

No Result
View All Result
  • Home

© 2020 St. Kitts & Nevis Information Service. Developed by E-Government Unit