Regulatory Alerts2022-01-01
Financial Consumer Protection Act, 2022 (Consolidated to September 1, 2024)
The Central Bank of Seychelles and the Financial Services Authority enacted this Act to establish comprehensive oversight for financial services providers and protect consumer interests. The legislation mandates equitable treatment, transparent advertising, standardized disclosure forms, and seven-year record retention for all financial transactions. It grants regulators robust enforcement powers to impose administrative penalties up to SCR 400,000 for non-compliance while guaranteeing accessible dispute resolution and strict data confidentiality.
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