Early in my career as a regulator, I often wondered why firms struggled to implement what appeared to be straightforward regulatory requirements. From my perspective at the time, the purpose of the rules seemed clear, and the expectations appeared reasonable. Years later,...
The Financial Services Commission (FSC) Mauritius has issued new Guidelines on the Frequency of Customer Due Diligence (CDD), providing greater clarity on the timing and frequency of customer reviews that financial institutions and other regulated entities must undertake as...
The Securities (Amendment) Act, 2024 and related regulations, which came into force on 1 January 2025, introduced a number of changes affecting the operations and compliance obligations of Seychelles Securities Dealers. Existing licensees were granted an 18-month transition...
Mauritius continues to strengthen its position as a reputable international financial centre through an increasingly robust Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework. As the jurisdiction aligns more closely with Financial Action Task...
The Internal Audit Function forms an important part of the governance and internal control framework of Cyprus regulated firms. Both the Cyprus Securities and Exchange Commission (“CySEC”) and the Central Bank of Cyprus (“CBC”) require regulated entities to maintain an...
Seychelles remains a popular jurisdiction for forex brokers, CFD providers and generally international financial groups seeking a regulated and commercially practical licensing framework. A Securities Dealer Licence, issued by the Financial Services Authority (FSA) Seychelles,...
For Cyprus Investment Firms (CIFs), compliance is often treated as a reporting requirement. In reality, CySEC’s expectations extend well beyond the preparation of annual reports or the maintenance of policies. The regulator’s focus is increasingly directed toward whether firms...