Regulatory Alerts2022-12-31
Financial Institutions Act 1996 (Consolidated version as at 31 December 2022)
The Central Bank of Samoa is mandated to license and prudentially supervise financial institutions, including securities brokers and dealers, to maintain the stability of the financial system. The Act prohibits unlicensed entities from conducting banking or securities business and establishes strict requirements for capital adequacy, internal controls, and external auditing. It further empowers the Central Bank to enforce compliance through administrative fines, license revocation, and court-supervised management of non-compliant institutions.
Share