What is the Seychelles Financial Services Authority (FSA)? Seychelles Financial Services Authority (FSA) Review, Features

The Financial Services Authority (FSA) of Seychelles is the autonomous regulator responsible for non-bank financial services in Seychelles and was established under the Financial Services Authority Act 2013.

About the Seychelles Financial Services Authority (FSA)

• The Financial Services Authority (FSA) of Seychelles is responsible for licensing, regulating, enforcing regulatory and compliance requirements, monitoring and supervising the conduct of business in the non-bank financial services sector in Seychelles. These regulated activities are trust services, capital markets and collective investment schemes and insurance.
• The Seychelles Financial Services Authority (FSA) is also responsible for regulating activities in the International Trade Zone, gambling activities (casinos, slot machines and interactive gambling), hire purchase and credit sales activities, and the registration of international business companies, foundations, limited partnerships and trusts in Seychelles.
• The Seychelles International Business Authority Act (SIBA), the predecessor to the FSA, was enacted in 1994 with the purpose of monitoring, supervising and co-ordinating the conduct of international business activities in Seychelles and promoting Seychelles as a hub for international business activities. Recognising the need for greater transparency and visibility as a regulator of financial services business, the SIBA Act was repealed and replaced by the Financial Services Authority Act, 2013 on 1 March 2014.

Under the Financial Services Act 2013, the FSA’s mandate includes:

• To supervise, monitor and regulate licensees, and other financial services businesses carried on in or from Seychelles, in accordance with this Act and financial services legislation;
• administering registry legislation;
• developing appropriate legal, regulatory and supervisory mechanisms to efficiently and effectively administer the Authority and financial services legislation;
• take such steps as may be necessary to properly inform and educate the public about its functions and matters relating to or affecting any financial services business;
• Taking action against persons carrying on unauthorised financial services business in Seychelles.

The vision of the Seychelles Financial Services Authority (FSA)

To transform and develop the non-bank financial services sector in Seychelles through the application of a sound regulatory and supervisory framework that protects the reputation of the jurisdiction and the investments of consumers and stakeholders.

mission

Work together to create an environment conducive to the development and progress of the financial services industry, keep pace with international economic development strategies, and strictly abide by regional and international regulatory rules.