Regulatory Alerts2022-04-07
Central Bank of Seychelles Directive on Draft Audited Financial Statements
The Central Bank of Seychelles has suspended enforcement of sections 38(2)(A) and 38(2a) of the Financial Institutions Act 2004, eliminating the mandatory submission and prior consultation requirements for draft audited financial statements. Effective in 2022, all financial institutions must now submit only final audited reports and statements to the Central Bank before publication. This regulatory shift prioritizes final audited information to complement supervisory activities and aligns with ongoing legislative amendments.
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