The Financial Services Authority, Seychelles (“FSA”) wishes to inform the licensees and other stakeholders that Ms. Zenabe Daman, the Deputy Chief Executive Officer of the FSA, is currently undertaking the role of acting Chief Executive Officer of the FSA.

The FSA has initiated the due process with regards to the appointment of a new Chief Executive Officer (“CEO”). To that end, as the FSA has published the vacancy inviting the submission of applications by interested persons for the post of CEO. The publishing of the vacancy started as of Monday the 25^th of July where it shall remain open until the 5^th August, 2022.

The FSA would like to thank all licensees and stakeholders for their continued support during this process.  

Financial Services Authority

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 24^th 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 28^th 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

The FSA hosted a virtual meeting on Tuesday morning to present and launch its new Strategic Plan 2021-2025. The invitation was extended to members of the industry and the Seychelles Chamber of Commerce and Industry.

The CEO of the FSA, Mr. Damien Thesee welcomed the attendees and stated that the purpose of the new strategic plan is to realign the FSA’s vision, mission and strategic deliverables for the next five years with a clear focus on:

• Effective and efficient delivery of the FSA’s national and international mandate;
• Operating in strict compliance to international rules and standards;
• Earning the reputation of a reputable and exemplary NBFS jurisdictions;
• Acquisition of the desired capabilities and infrastructure; and
• Being a significant financial contributor to the Seychelles economy.

The presentation which was delivered by 3 staff members of the FSA, Mr. Eric Dsouza from the Policy, Research & Statistics Section, Ms. Arlette Hoareau from the Legal Unit and Ms. Amanda Rene from the Fiduciary Supervision Section. An overview of a SWOT analysis conducted on the Authority highlighting the major challenges being faced including FSA’s strategic risks assessment.

At the end of the presentation, participants were given the chance to give their comments and inputs on the new strategic plan and interact with the CEO. Any further comments are to be provided to the Director of Corporate Communications, Ms. Lissa Bristol on the following email address: lissa@fsaseychelles.sc. The FSA intends to conduct another session soon with the industry for those who could not attend.

Following the presentation of the strategic plan with the industry and other stakeholders, the plan will be updated and finalized before submission to the Government for approval in September.

Financial Services Authority