In an increasingly regulated global financial environment, choosing the right licensing jurisdiction is no longer simply a compliance exercise, it is a strategic business decision that can directly influence a firm’s ability to scale, attract clients, establish banking...
The Financial Services Authority (FSA) of Seychelles has published its long-awaited Guidance Note on Paid-Up Capital Requirements for Virtual Asset Service Providers (VASPs), providing important clarification on how the paid-up capital provisions under the Virtual Asset...
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...