Regulatory Alerts2022-04-23
Financial Consumer Protection Act, 2022
Enacted by the President and National Assembly of Seychelles, this legislation empowers the Central Bank and Financial Services Authority to regulate financial services providers and safeguard consumer interests. The Act mandates equitable treatment, transparent advertising, comprehensive pre-contract disclosure, and strict data confidentiality while establishing clear internal complaint handling and redress procedures. Non-compliant providers face administrative penalties, corrective actions, and potential punitive damages, ensuring a fair, accessible, and sustainable financial sector.
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