Under the Anti-Money Laundering and Countering the Financing of Terrorism Act, 2009, amendments and regulations thereto, the Guyana Securities Council was designated as a ‘Supervisory Authority’.

A supervisory authority is defined in Section 2 of the Act which means the authority set out in column 2 of the Fourth Schedule who has compliance oversight over the reporting entity set out in Column 1 of the Schedule.

The role of the supervisory authority is specifically set out in Section 22 of the Act which states that the supervisory authority responsible for supervising each reporting entity shall supervise compliance by the reporting entity with the requirements of Sections 15, 16, 18, 19 and 20 and includes the Guyana Securities Council, established under Section 4 of the Securities Industry Act, 1998.