Regulatory Alerts2022-04-06
FAQs for Outsourcing of Compliance Function
The Financial Services Authority clarifies regulatory requirements for licensees outsourcing their compliance functions to individuals or companies. Approved service providers must be fit and proper, reside in Seychelles, and demonstrate the capacity to manage multiple licensees based on business complexity. Licensees must maintain indefinite approval through immediate issue notifications, periodic compliance audits, and onsite or offsite supervisory inspections.
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