Regulatory Alerts2013-02-08
Reminders for Payment of Annual Fee
The Central Bank of Seychelles has ceased sending annual fee reminders to bureaux de change, effective immediately. License holders must now independently ensure timely payment to avoid a daily penalty of ten percent on the outstanding annual fee. This policy shift reflects the industry's mature capacity to self-manage regulatory compliance under Section 10(4) of the Financial Institutions Act 2004.
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