As with any other licensed and regulated insurance company, it is the job of the regulator to ensure that the financial institutions they regulate are run in a way which prevents insolvency, and fixes any problems that arise. Regency is regulated by the Nevis Financial Services Regulatory Commission in St Kitts & Nevis, a former British colony which is now an independent Commonwealth country (since 1983). Like many British-linked Caribbean countries and territories, it is known as an international financial centre.