Regulatory Alerts2015-04-01
Corporate Governance Guidelines for SEZ Banks and Other Financial Institutions 2015
The Central Bank of Seychelles issued these April 2015 guidelines to mandate comprehensive corporate governance standards for all licensed banks and financial institutions. The framework requires boards of five to eleven members with a majority of non-executive directors, a separated chairman and chief executive role, and rigorous appointment procedures alongside at least six annual board meetings. Institutions must also establish independent audit committees that meet quarterly and implement risk-based internal audit functions to ensure continuous oversight of financial reporting, regulatory compliance, and enterprise risk management.
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