Dominica's Financial Services Unit Wins Wealth and Finance International’s Financial Services Regulatory Authority of the Year 2024 Award

Dominica’s Financial Services Unit (FSU) has won the prestigious Wealth and Finance International Award as the Financial Services Regulatory Authority of the Year 2024 – Caribbean.

The award highlights the FSU's dedication to regulatory excellence and its

commitment to strengthening Dominica's financial services sector and promoting

integrity and compliance with international standards.

The Wealth and Finance International Award recognizes institutions demonstrating

outstanding performance in financial regulation, as well as skill, innovation and

success in delivering trusted and reliable financial services to clients. Dominica's

FSU was chosen for its robust regulatory frameworks, ongoing monitoring and

effective enforcement policies, which enhance the credibility of Dominica’s financial

services sector both regionally and globally.

As Dominica’s sole regulatory authority for financial services, the FSU oversees a

range of institutions including credit unions, insurance companies, offshore banks,

Forex businesses and other financial entities and service providers.

Director of the FSU, Claudius Lestrade says the award recognizes the FSU’s

success in enhancing transparency, combating financial crimes and implementing

policies that promote a stable financial environment.

“We strive to foster an internationally competitive financial services industry and aim

to enhance Dominica’s financial services sector while protecting consumer interests.

Integrity and transparency guide our operations and we are dedicated to serving

clients with honesty as a fundamental principle,” he commented.

“This recognition highlights our team’s commitment and the government’s support in

maintaining a resilient, transparent financial sector. The FSU remains dedicated to

safeguarding stakeholders’ interests and enhancing Dominica’s standing as a secure

and compliant financial services hub.”

The Financial Services Unit, established by an Act of Parliament in 2008, operates

under the Ministry of Finance, Economic Development, Climate Resilience and

Social Security.

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