The Financial Supervisory Commission (FSC) came into existence in the Cook Islands on 1 July 2003, replacing the former Off-Shore Financial Services Commission. The Financial Intelligence Unit (FIU) merged with the FSC on 1 July 2012.

VISION:

• To be a financial regulator that is committed to excellence
• Integrity and supportive of growth and development of
• The Cook Islands financial services centre.

MISSION:

• To oversee an effective and efficient prudential and investigative supervision
• Regime applying risk-based, and intelligence-led, policies in line with
• Internationally accepted best practice.

The FSC:

• Is an independent body responsible for the supervision of regulated financial entities and financial services in the Cook Islands
• Comprises the Board, the Commissioner, the Head of FIU and its staff, supervisory staff and the Registrar of International Companies and International Trusts
• Is the licensing authority for all financial institutions being banks, insurers (including captives), money-changing and remittance businesses and trustee companies
• Operates the Registry of International & Foreign Companies, Limited Liability Companies, International Trusts, International Partnerships and Foundations
• The FIU function is to facilitate the prevention, detection, investigation and prosecution of money laundering, the financing of terrorism and other serious offences in the Cook Islands