What is the Office of the Commissioner of Financial Insitutions?
(OCFI)


The Office of the Commissioner of Financial Institutions is an agency of the Commonwealth of Puerto Rico created under Act No. 4 of October 11, 1985, as amended, has a mandate to enact the public policy for the financial industry and the responsibility to regulate, supervise and oversee the financial institutions operating or otherwise doing business in Puerto Rico.

Act. No. 4 also created a Financial Board, attached to the OCFI, empowered to establish, regulate, increase, reduce or deregulate interest rates and finance charges in Puerto Rico.

Mission

Regulate, supervise and oversee
Puerto Rico’s financial system to:
Ensure its safety, soundness, and global competitiveness;
Promote the Commonwealth’s socioeconomic development; and
Protect the public interest.

Vision

Maintain a modern and flexible
financial system through policies
that ensure balance and equity
among the interests of:
depositors, shareholders, investors, and
the general public.

MAIN RESPONSIBILITIES AND AUTHORITY OF THE COMMISSIONER
Grant licenses to concessionaries

Banks
Casinos
Check Cashing Companies
Finance Companies
Financial Intermediaries
International Banking Entities
Leasing Companies
Money Transmitters
Mortgage Institutions
Pawn Shops
Small Loans Companies
Trust Companies

Authorize the operation and/or require the registration of:

Broker-dealers
Investment Advisors
Investment Companies
Venture Capital Funds

Regulate

Examine and oversee licensees’ operations

Take diligent care of complaints filed

Compile and analyze Financial Data from the financial industry

Receive Unclaimed Property and its return to owners

 

© 2003 Oficina del Comisionado de Instituciones Financieras.