Regulatory Alerts2025-07-17
Complaint Handling Unit Exemption Guidelines
The Financial Services Authority of Seychelles issues these guidelines to establish the criteria and application process for financial services providers seeking exemption from the mandatory establishment of a dedicated Complaint Handling Unit. Exemptions are evaluated based on factors such as having fewer than ten employees, offering a narrow range of simple products, and posing minimal systemic risk, while exempted entities must still maintain documented complaint procedures, appoint a designated staff member, and submit relevant data to the regulator. The Authority retains the right to review, amend, or revoke exemptions at any time if an FSP's operational profile changes, compliance conditions are breached, or consumer protection objectives are compromised.