Regulatory Alerts2023-04-01
Code for Compliance Function
The Financial Services Authority of Seychelles issued this legally binding Code to establish mandatory standards for the compliance functions of licensed financial entities. Licensees must appoint a fit and proper Compliance Officer, maintain an independent compliance framework, and ensure robust risk identification, board reporting, and adherence to regulatory obligations. The Code details appointment criteria, exemption pathways, delegation rules, and reporting duties to ensure a consistent compliance culture across diverse business models while granting the Authority direct enforcement powers for non-compliance.
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