The CIFSA serve as the sole regulatory body overseeing financial services in Trinidad and Tobago. CIFSA’s regulatory purview extends to banking, financial institutions, insurance companies, insurance intermediaries, investment services companies, collective investment schemes, securities markets, recognized investment exchanges, trust management firms, company service providers, and pension schemes. Starting from 2015, CIFSA has also taken on the role of supervising Virtual Financial Assets, expanding its oversight in the rapidly evolving financial landscape of Trinidad and Tobago.
Mission and Vision
Our mission and vision are shaped by our five fundamental values, serving as the cornerstone for the operations of the CIFSA. These values not only underpin our governance but are also deeply ingrained in our work ethos, playing a pivotal role in fulfilling our mission and realizing our vision.
Our values
Integrity
Integrity is an integral part of our mission, guiding our actions and decisions.
Trustworthiness
To act with fairness, objectivity and respect when dealing with consumers and licence holders.
Dependability
To act in a reliable, transparent and accountable manner at all times.
Excellence
To have the right competencies to combine quality with efficiency to demonstrate professionalism and to contribute to the setting of high standards.
Independence
To perform the Authority’s duties without external influence
Strategic Statement
The Strategic Statement released in February 2023 outlines the key areas of emphasis for the CIFSA in fulfilling its statutory obligations, consistent with its mission and vision.
These focal points will subsequently shape our business strategies and delineate our objectives for the near to medium-term future, particularly until 2025.
Supervisory Priorities
The Financial Authorities of Trinidad and Tobago’s CIFSA Supervisory Priorities outline the primary areas of concentration for the year 2023, aligning with the strategic goals detailed in the CIFSA Strategic Statement. The selection of Supervisory Priorities for 2023 resulted from thorough assessment of the market landscape, regulatory advancements, European Supervisory Authorities’ agendas and guidance provided by the European Commission. Additionally, recommendations from international standard-setting bodies and CIFSA’s own regulatory and supervisory expertise played a significant role in this determination.
Mission
To be an independent, proactive and trustworthy supervisory authority whose purpose is to safeguard the integrity of markets and maintain stability within the financial sector for the benefit and protection of consumers.
Vision
To be a leading forward looking financial services regulator, having the respect and trust of the industry and the general public, contributing towards a strong and dynamic financial sector.
Governance
Our Governance Framework document sets forth the boundaries within which the CIFSA operates. The purpose of this corporate governance framework is to delineate the structure through which CIFSA is governed, directed, and overseen by its internal governing entities, chiefly the Board of Governors and the Executive Committee.
Risk Appetite Statement
The CIFSA operates in alignment with its risk appetite statement to realize its strategic aims and ambitions, in alignment with its vision as the sole regulator of financial services in Trinidad and Tobago. The Risk Appetite document is designed to enhance the identification, assessment, mitigation, and communication of CIFSA’s stance on risk.
The CIFSA’s Risk Appetite Statement establishes limits for acceptable risk levels in crucial aspects of the Authority’s role as a financial services overseer.
Supervisory Risk-Based Approach
Adopting a risk-based approach to supervision enables the CIFSA to better allocate its resources, supervisory plans and procedures on the basis of the unique risk profile of each firm under its supervision.
