Regulatory Alerts2008-01-01
Mutual Fund and Hedge Fund Act 2008
The Central Bank of Seychelles enacted this legislation to establish a comprehensive licensing and regulatory framework for mutual funds, hedge funds, and fund administrators operating within its jurisdiction. The Act mandates that qualifying entities obtain specific fund licenses, maintain fit-and-proper operators and independent custodians, and submit audited accounts alongside detailed offering documents. It further empowers the Authority to conduct inspections, enforce compliance through fines and court relief, and grant exemptions to foreign funds and administrators while repealing the previous 1997 legislation.
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