Regulatory Alerts2025-05-16
Code of Corporate Governance
Issued by the Financial Services Authority of Seychelles, this legally binding Code establishes a comprehensive corporate governance framework for all licensed non-bank financial service entities operating in the jurisdiction. It mandates adherence to nine core principles covering board accountability, leadership independence, diverse composition, ethical culture, performance-aligned remuneration, proactive risk oversight, transparent reporting, robust audit procedures, and conflict of interest management. Regulated entities must implement these standards on an "apply or explain" basis, with the Authority empowered to enforce compliance and take legal action against licensees, directors, or officers that fail to meet the prescribed governance obligations.