Financial Services Authority (FSA)

Basic Information

The Seychelles Financial Services Authority (FSA) is the autonomous regulatory body responsible for non-bank financial services in Seychelles. Headquartered in Victoria, Mahe, the FSA oversees a wide range of financial activities, including fiduciary services, securities dealing, insurance, and gambling operations. The authority maintains a robust regulatory framework aligned with international standards to ensure market integrity and consumer protection.

Historical Background

The FSA was formally established in 2013 under the Financial Services Authority Act, consolidating regulatory oversight previously fragmented across multiple entities. Its creation marked a significant evolution in Seychelles’ financial services sector, transitioning from a service-provider model to a dedicated regulatory institution. The FSA celebrated its 25th anniversary in 2020, reflecting its long-standing commitment to developing Seychelles as a reputable international financial hub.

Legal Authority and Regulatory Framework

The FSA derives its authority from the Financial Services Authority Act, 2013, which empowers it to license, monitor, and enforce compliance across regulated entities. Additional legislation under its purview includes:

• The Securities Act
• The Anti-Money Laundering and Countering the Financing of Terrorism Act, 2020
• The Virtual Asset Service Providers Act, 2024
• Various regulations governing capital markets, insurance, and collective investment schemes

Core Responsibilities and Regulatory Scope

The FSA’s primary functions include:

• Licensing and supervising securities dealers, investment advisors, and other financial service providers
• Monitoring compliance with anti-money laundering (AML) and counter-terrorist financing (CFT) regulations
• Investigating unauthorized financial activities and issuing public warnings about fraudulent entities
• Maintaining public registers of licensed entities and enforcing disciplinary actions when necessary
• Developing regulatory frameworks for emerging sectors like virtual asset service providers

Comprehensive Contact Information

The FSA can be reached through multiple channels:

• Physical Address: Bois De Rose Avenue, P.O. Box 991, Victoria, Mahe, Seychelles
• Telephone: +248 438 0800
• Fax: +248 438 0888
• Email: [email protected] (general inquiries), [email protected] (investor complaints)
• Operating Hours: Monday to Friday, 8:00 AM to 4:00 PM (Seychelles Time)

How to Verify Regulated Entities

To confirm whether a financial service provider is properly licensed by the FSA:

1. Visit the official FSA website and navigate to the ‘Regulated Entities’ section
2. Select the appropriate category (e.g., ‘Securities Dealers’ for forex brokers)
3. Search for the company name in the official register
4. Verify that the registration details (company name, website, contact information) match those provided by the entity
5. Cross-check with the ‘Scam Alert’ section to ensure the company hasn’t been flagged for unauthorized activities