The FSA Seychelles meets with senior management staff of the Dubai FSA

The FSA Seychelles meets with senior management staff of the Dubai FSA

Senior staff from the FSA Seychelles met with the senior management of the Dubai FSA (DFSA) at the Dubai International Financial Centre on Sunday 24th October, 2021. The DFSA, which is the independent regulator of the Financial Services in Dubai was represented by Mrs. Sara Galadari, Head of International Relations, Mr. Justin Baldacchino, Managing Director Supervision, Mr. Peter Smith, Managing Director Head of Strategy, Policy and Risk and other senior staff.

The Chief Executive Officer, Mr. Damien Thesée headed the delegation, which comprised of the FSA’s Deputy CEO, management staff from the Policy, Research and Statistics, the AML-CFT, Capital Markets and Collective Investment Schemes, ITZ, and the Corporate Communications Unit. The team who is currently in Dubai to conduct a business conference on the 28th October, in collaboration with the Seychelles Investment Board (SIB), is also attending several fact finding meetings with other regulatory counterparts, as part of an ongoing effort to foster and maintain the relationship between other regulatory bodies. 

The meeting with the DFSA provided an opportunity to leverage on the expertise between the two Authorities on common challenges such as AML-CFT, supervision, international best practices, and the lack of talent within the sector. Regulatory framework, risk based approach, request and exchange of information were also discussed. 

The teams will now explore the possibilities to sign a Memorandum of Understanding (MoU) between the two Authorities particularly in regards to the exchange of information and possibility for FSA Seychelles to be provided with secondment opportunities so as to build on capacity building and development.

The team will continue with other courtesy visits to other regulatory authorities during the week.

 Financial Services Authority