The Financial Services Authority was established on November 12, 2012, by an Act of Parliament. Its role is clearly defined by the Financial Services Authority Act, No.33 of 2011 and is empowered “to regulate, supervise and develop the non-bank financial services sector in St. Vincent and the Grenadines”. The business of The Authority is under the direction of a board of directors. The mandate of the FSA derives from its legal objects and purpose.