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Thread: International Financial Services Commission Belize (IFSC Belize)

  1. #1
    Super Moderator Gulfstream's Avatar
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    International Financial Services Commission Belize (IFSC Belize)

    IFSC Belize


    International Financial Services Commission Belize – is self-regulated organization, which was founded in 1999.

    If Bank system of Belize, including an offshore sector, is regulated with National Bank of Belize, the whole non-banking sector completely falls under the jurisdiction of International Financial Services Commission Belize ( further – The Commission).

    The membership of the Commission includes representatives of public and private sectors. Today the membership of IFSC Belize is as follows:

    Chairman - Mr. Joseph Wade - Financial Secretary
    Deputy Chairman - Mr. Jan S. Gandhi - Director General
    Members:
    1. Mr. Glenford Isagier - Governor of the Central Bank of Belize
    2. Ms. Marilyn Williams - Director of the special finance unit
    3. Mr. Nigel Hawke - Deputy Minister of Justice
    4. Mr. Kent - The Commissioner of Income Tax
    5. Mr. Christopher Coy
    6. Mr. Rodwell Williams
    7. Mr. Ortiz Lizette
    8. Mr. Aldo Salazar

    The main areas of the Commissions’ activity are:
    · enhancement and development of Belize, as the center of international financial services;
    · protection and consolidation of the reputation of Belize, as the offshore financial center;
    · ensuring the control and regulation of international financial services;
    · development of the policy, and also providing the consultation and the assistance to the Government on regulation of financial services;
    · acquisition, storing and timely informing stakeholders about the submission of changes or about new trends in the financial services area.


    This activity is realized by means of:

    · development and implementation of standards and norms, required for the proper regulation of the financial services market;
    · licensing of international financial services providers;
    · supervision of the proper execution of existing norms and standards in the finance field by financial services providers.

    Licensing members of the financial market, firstly, is designated that only companies, which respond international requirements, can provide, exercise and maintain financial services as inside as outside Belize; secondly, to control the activity of the licensee for its compliance with established standards and regulations.

    Regulation of licensed companies is exercised in accordance with developed IFSC Belize Regulations (Code of Conduct) and other normative and legal acts, valid in Belize.


    Licensed of IFSC Belize financial services providers, depending on the nature of the activity , are divided into the following categories (lists):

    · category “A” - International Business Companies
    · category «B» - Companies providing trustee;
    · category «C» - Companies providing services in the area of international insurance;
    · Category «D» - Companies providing services in the area of international collective investment schemes or open-end funds;
    · category «E» - Companies providing management services and international protection of assets;
    · category «F» - Companies providing services in the area of ​​securities trading;
    · category «G» - Companies providing international credit services;
    · category «H» - Companies providing brokerage / consulting / consulting services;
    · category «I» - Companies providing international custody services;
    · category «J» - Companies providing services in the area of trading on Forex;
    · category «K» - Companies providing money transfer services;
    · category «L» - Companies providing brokerage services in the area of money;
    · category «M» - Companies providing currency exchange services;
    · category «N» - Companies providing payment processing services;
    · category «O» - Companies providing international accounting services.

    It should be noted here, that the license is issued to the provider of financial services only on specified type of activity. Thus, for example, the company, which consists in the category “B”, cannot provide services, specified in other categories, if it doesn’t have relevant licenses on it.
    Lists of licensed providers of services are updated regularly, that’s why traders and investors always can check the company, which they deal with, for the existence of the relevant license of IFSC Belize.

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  2. #11
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    thank you for the explanation of the IFSC, there are actually many brokers who have the license of the IFSC Belize, there is news saying that brokers that only have an IFSC license are bad bro, but I think the IFSC is a clear license after reading this thread, moreover it seems that roboforex also has this license

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