Seychelles Securities Dealer License Compliance Officer Services

Compliance officer services for Seychelles securities dealer license 

• Seychelles securities dealer license compliance officer services are an important consideration for any business intending to establish itself as a brokerage or licensed investment business in this respected offshore jurisdiction. Demand for either experienced compliance officers or outsourced compliance solutions has soared thanks to the Seychelles Financial Services Authority (FSA) putting in tactical enhancements to existing regulations. These enhancements will assist firms to meet local and international requirements, not just for anti-money laundering (AML), but also reporting obligations and governance.  

• To get a Seychelles securities dealer license, there are multiple regulatory requirements like capital, documentation and having staff in Seychelles. However, the ease and low-tax regime that enables international entrepreneurs to register company in Seychelles continue to inspire a large amount of new incorporations every year.  

• Here at Tetra Consultants, on this page we will detail our full Seychelles securities dealer license compliance officer services, benefits, reporting obligations, and how our team can make the process of incorporation through license obtaining and compliance management as easy as possible for your business. 

Benefits of Seychelles securities dealer license compliance officer services

Regulation compliance 

• The compliance officer will make sure that your company is constantly complying with the legal requirements of the Seychelles Financial Services Authority (FSA), thereby protecting your company from regulatory breaches or issues to suffer fines, as well as protecting a suspension or revocation of your Seychelles securities dealer license, which would have a considerable and fascinating impact on your business operations and legal rights as a licensed business in a foreign legal jurisdiction. 

Specialized oversight 

• When hiring a compliance officer service, your company will benefit from their specialized knowledge of Anti-Money Laundering (AML), Counter Finance of Terrorism (CFT) and securities laws, which will either build-up or sustain your firm’s internal governance, help with changing regulatory environments and maintain a robust compliance framework that is current. 

Value added compliance 

• Compliance officer services provide full management of compliance requirements and requirements and statutory to regulatory officers such as the annual compliance forms and information. Managing requirements means that your Seychelles securities dealer license is kept as active, and even in consideration of the additional regulations included, the compliance officer service reduces risks including tedious paperwork and deadlines. 

Protecting your reputation 

• A Compliance officer will be on the lookout for money laundering, fraud and other illegal activity and will generally assess risks including the likelihood that your organization’s reputational loss is minimized or mitigated to regular extent in comparison to other market players and actors especially in building confidence with institutions, clients, and regulators based in Seychelles or other jurisdictions. 

Who should appoint Seychelles securities dealer license compliance officer services?

Licensed securities dealers 

• In accordance with the law, holders of licensed Seychelles securities dealer licenses are required to appoint a properly qualified Compliance Officer, as a full-time employee or via approved outsourcing, in accordance with FSA compliance, AML, and risk management requirements.  

Reporting entities supervised by the FSA 

• Any reporting entity including capital markets firms, mutual funds, and collective investment schemes regulated and licensed by the Seychelles Financial Services Authority must appoint a Compliance Officer and an Alternative Compliance Officer as required by the AML/CFT Act, 2020. 

Virtual Asset Service Providers (VASPs) licensed by the FSA 

• All Seychelles licensed companies conducting virtual asset services must appoint a Compliance Officer and an Alternative Compliance Officer in order to comply with AML regulatory reporting obligations. 

Eligibility for Seychelles securities dealer license compliance officer services

• Must be appointed by all Seychelles securities dealer license holders as required under the Securities Act, 2007 and enforced by the Seychelles Financial Services Authority (FSA). 

• Should be a full-time resident in Seychelles or provide locally outsourced AML compliance service that meets the FSA’s local substance test. 

• Must have relevant professional qualifications that are recognized by the FSA, generally in a field such as finance, legal compliance, anti-money laundering (AML) or similar.  

• Required to have sufficient relevant experience, especially in compliance, AML/CFT, and risk management. 

• Must be a ‘fit and proper’ person as defined under the Securities Act, this includes integrity, competence and financial soundness, assessed through back-office checks by the FSA. 

• Must ensure that compliance with AML/CFT obligations including the timely filing of the Annual Compliance Form within 90 days after each calendar year, as required by Seychelles legislation. 

• Expected to sustain, manage, and control internal controls and compliance frameworks in accordance with the Seychelles Conduct of Business and Advertisements Regulations. 

• Must have a clear professional and regulatory history and will not have a history of financial harm or breaches that have affected their fitness for the position. 

• Must be formally approved by the Seychelles Financial Services Authority prior to appointment and issuance or renewal and licensing of the person. 

• Must cooperate with regulatory audits, inspections and ongoing monitoring by the FSA. 

Seychelles securities dealer license compliance officer assistance 

• Our Seychelles securities dealer license compliance officers hold the designation of Certified Anti-Money Laundering Specialists (CAMS) and Certified Financial Crime Compliance professionals and have at least five years of hands-on experience in the financial services industry. Our compliance officers have extensive knowledge of the Seychelles regulatory framework, which includes the Securities Act, AML/CFT compliance requirements, and reporting requirements set out by the Seychelles Financial Services Authority (FSA).  

• Tetra Consultants will ensure that your securities dealer business is always compliant by designing a tailored AML/CFT framework, conducting all ongoing regulatory reporting obligations, being your primary contact with the FSA, providing your team with compliance officers that follow the highest standards of integrity and regulatory compliance. 

Services offered by Tetra Consultants Seychelles securities dealer license compliance officer 

• Provide full compliance with:  
  • Securities Act, 2007 
  • Securities (Conduct of Business) Regulations, 2008 
  • FSA Circulars, Guidance Notes, and Licensing Conditions 
  • AML/CFT legislation in Seychelles 

• Act as the primary contact with the FSA, dealing with regulatory queries, inspections, and correspondence.   

• Ensure submissions are made on time with,  
  • Audited financial statements 
  • Annual returns 
  • Compliance certificates 

• Submissions notifying of any material changes including, changing directors/shareholders, changing business activities 

• Design, implement and maintain a risk-based AML/CFT program 

• Supervise and ensure the proper completion of:  
  • Customer Due Diligence (CDD/KYC) 
  • Enhanced Due Diligence (EDD) 
  • Ongoing transaction monitoring 
  • Sanctions-screening (UN, EU, US sanctions list) 

• Act as and/or work alongside the Money Laundering Reporting Officer (MLRO) to investigate and submit Suspicious Transaction Reports (STRs) to Seychelles Financial Intelligence Unit (FIU). 

• Advise the Board of Directors and Senior Management on regulatory updates and compliance risks.  

• Establish, maintain and follow an internal compliance manual. 

• Report on the effectiveness of internal controls, policies, and the overall company’s risk exposure.  

• Ensure the proper segregation of duties/functions and to ensure there are no conflicts of interests in any business performance. 

• Conduct or supervise periodic internal compliance reviews and compliance monitoring plans. 

• Facilitate independent audits or reviews by 3^rd party compliance consultants or external auditors such as Tetra Consultants. 

• Maintain a current compliance risk assessment and remediate all findings. 

• Conduct AML/CFT and compliance training programs on a consistent basis for staff, management, and directors. 

• Ensure employees understand their obligation to report suspicious activity and adhere to internal procedures. 

• Keep records of training programs and attendance records. 

• Maintain and oversee retention of: 
  • KYC files 
  • Transaction records 
  • Compliance reports 
  • STR filings 
  • Audit logs 

• Ensure all records are retained for a minimum of 7 years in accordance with Seychelles law. 

• Review and approve all new business lines, trading platforms or client categories from a compliance perspective. 

• Conduct risk assessments for:  
  • High risk jurisdictions,  
  • Complex financial products, and  
  • Cross-border brokerage activities. 

Steps for appointment of Seychelles securities dealer license compliance officer