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. 

The vision of the FSC is: To be a financial regulator that is committed to excellence, integrity and supportive of growth and development of the Cook Islands financial services centre.

The mission statement of the FSC is: 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.

FSC Cook Islands:

• 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 the 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.