Regulatory Alerts2024-01-01
Securities (Conduct of Business) (Amendment) Regulations 2024
The Seychelles Minister of Finance, acting on the Securities Authority’s recommendation, amends the 2008 Conduct of Business Regulations to impose stricter complaint handling, client classification, and outsourcing obligations on licensed entities. Licensees must now employ a resident complaints officer, maintain detailed complaint databases, and retain all relevant records for at least seven years while notifying the Authority of their international operational jurisdictions. The amendments further enforce rigorous retail and professional client categorization, cap retail liability on restricted speculative investments to trading account funds, and restrict core function outsourcing to affiliated entities subject to prior regulatory approval.