As the Seychelles has become an increasingly popular destination for offshore financial services and capital markets companies, the Seychelles Financial Services Authority (FSA Seychelles) has taken on an increasingly prominent role within the non-bank financial services sector.
Established under the Financial Services Authority Act, 2013, FSA is responsible to license, regulate, enforce regulatory and compliance requirements, monitor and supervise the conduct of business in the non-bank financial services sector in the Seychelles. These regulated activities include fiduciary services, capital market & collective investment schemes, insurance, and gambling. FSA is also responsible for the registration of international business companies, foundations, limited partnership and international trust in the Seychelles.
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1. Safety of Client Funds：
The Minister may, on the recommendation of the Securties Authority, make regulations with respect to the segregation and safekeeping of clients' money or securities held by licensees on behalf of clients.
2. Requirement on Forex Brokers' Reports：
Transaction Reports; Audit Reports; Clients Funds Reports; Anti-laundering Reports.
Generally speaking, Seychelles FSA-regulated broker profile will be found at the Regulated Entities page on Seychelles FSA website. Try to find it and check if it will match the info from the broker website.
The detailed steps are as follow:
1. Find the name of the forex broker, which you can get from the broker's website;
2. Choose the 'Securities Dealer' and search the broker's name in the list on https://fsaseychelles.sc/regulated-entities/capital-markets ;
3. If the broker's name is not in the list, it means that it may be an unauthorized broker and please watch out it.
If yes, click the name to check more details; 'Securities Dealers' can provide forex trading service.
4. If all the above steps have been done, don't forget to check the most important information: check if the broker details in the Seychelles FSA list matches the ones you'll go to trade with, especially the website and email etc.
If no, please keep away the broker because it's probably an unauthorized firm and your money will fall in danger.
When you have disputes with a Seychelles FSA-regulated broker, you can proceed the following ways:
1st way: The recommended way is to contact the broker directly and discuss with them to find a solution.
2nd way: If you're not satisfied with the broker's solution, try to contact Seychelles FSA, which helps to solve the disputes between the forex broker and the investor.
To submit a complaint you can:
1. Send the complaint to the email: firstname.lastname@example.org
2. Submit the complaint by post: The Chief Executive Officer, Policy (Information & Communication Unit), Financial Services Authority, Bois De Rose Avenue, P.O Box 991, Victoria, Mahé, Seychelles.
Complaint Form: https://fsaseychelles.sc/complaint-handling
3rd way: If the first 2 ways above can't solve the dispute, the last way is to issue a case to the court in Seychelles.
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