Frequently asked questions about membership at FMA Vanuatu
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What powers does FMA Vanuatu actually have?
The Financial Markets Association of Vanuatu is an independent self-regulatory body that represents the interests of its members, advises them on regulatory compliance and professional standards, and provides them with a voice to communicate with governments and regulators, media organizations, and the general public.
FMA Vanuatu aims to set up its own structure for mediating complaints and implementing sanctions, providing another layer of gatekeeping in addition to our government regulator, the Vanuatu Financial Services Commission (VFSC).
We believe in the power of peer-to-peer accountability to help build a stronger and more transparent trading community, protect our members and their clients, and grow our industry on the world stage.
What are the concrete benefits of becoming a member?
In addition to its role as a self-regulatory body (see above), FMA Vanuatu is developing a series of value-added services, including industry governance, representation, information exchange, education, and promotion.
Our services are diverse but they all help our members uphold the four pillars of our organization: accountability, expertise, efficiency and fairness. Ultimately, they contribute to raise Vanuatu’s profile as a well-regulated offshore jurisdiction where financial dealers deserve the trust and confidence of retail investors.
What relationship does FMA have with the Vanuatu Financial Services Commission (VFSC) and other government entities?
FMA Vanuatu is independent. It was founded as a charitable association by six registered agents of the VFSC’s Financial Dealer License (FDL) program. All these agents are established in the nation’s capital, Port Vila, and are reputable members of the Vanuatu Financial Centre Association. FMA Vanuatu is registered with the VFSC, whose members have shown great enthusiasm and have been supportive of our mission from the start. We look forward to working together to enhance the FDL program. We will also work with other government entities to promote the role of our members in Vanuatu’s economic development.
Will FMA Vanuatu be involved in developing new regulations for Vanuatu’s financial industry?
We will take every opportunity to make public statements and to represent the interests of our members before our government, regulatory agencies, and other authorities here and abroad. FMA Vanuatu may also be consulted for the development of new regulations, which we will process on the basis of protecting consumers, keeping our industry healthy, and helping our nation thrive.
Does FMA Vanuatu plan to establish relationships with non-governmental organizations in other jurisdictions?
We are currentlly focused on promoting our newly created association and building a strong service offer for our members. But we remain open to developing any foreign relationship that supports our mission to help our members grow stronger together in a fair and efficient marketplace.
Is USD 2,000 a one-time payment or annual?
Every member must renew their subscription annually. Our current USD 2,000 offer is a special introductory fee for FDL holders who join us in our first year of existence. That amount may rise in the future to reflect an improved service offer.