Regulatory Alerts2024-01-01
Securities (Amendment) Act, 2024
The President and National Assembly of Seychelles enacted the Securities (Amendment) Act, 2024 to modernize licensing frameworks and regulatory oversight under the Securities Act Cap. 208. The legislation revises annual licence fee structures, mandates quarterly pro-rata calculations for new licences, and strengthens "fit and proper" criteria for directors and officers of securities exchanges, clearing agencies, and facilities. It further establishes a comprehensive register for licensed entities, standardizes trade and domain name approvals, and introduces Part 13A to govern changes in key personnel with a daily USD 5000 penalty for non-compliance.
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