For years, financial services regulation has been built around a familiar operating principle: ask again, verify again, submit again.
The Financial Services Commission’s newly introduced “Known to the Commission” (KTC) concept signals a meaningful shift away from that mindset and towards a more mature, risk‑based regulatory model.
Stemming from the policy measures announced in the 2025/2026 National Budget and issued under Circular Letter CL050126, the KTC concept, at its core, seeks to improve regulatory efficiency by streamlining regulatory processes without compromising supervisory or compliance standards.
What is the KTC Framework?
Under the KTC framework, the FSC is able to leverage existing information already submitted and assessed in respect of certain applicants and their key individuals. Rather than requiring repetitive submissions of the same documentation, the FSC can place reliance on previously assessed and validated information, provided strict eligibility criteria are met.
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