Regulatory Updates

Scam Alert – Fraudulent Website

This notice is issued by the Financial Services Authority of Seychelles (“FSA”) to inform the public that  the following website is not associated with the FSA in any capacity. The details of the website are as follows;

https://fsaregulation.com/

The FSA  strongly urges investors and members of the public to exercise extreme caution in respect of these websites. The FSA further clarifies that the Authority will not be held responsible for any consequences should persons choose to engage or maintain client relationship, or utilise services provided with or by the aforementioned website.

The Financial Services Authority

16 December, 2024

The Financial Services Authority of Seychelles (“FSA”) is issuing a notice to its investors, licensees and members of the general public to the website "https://app.defiofci.com/">https://app.defiofci.com/". The Authority takes note that the website refers to a company named DeFi claiming to be authorized and regulated by the Seychelles Financial Services Authority under license number SD039. Please be advised that the entity is not known, does not hold a valid license nor is it regulated by the FSA in any capacity and the website is not linked to any entity licensed or regulated by the FSA in any capacity. 

The Authority urges investors and members of the general public to conduct adequate research on an entity, service provider(s), and representative prior to engaging in any business activities and/or performing any transactions involving money exchanges or exchanges of personal details. The FSA reminds the public that the Authority shall not be liable should persons continue to engage or maintain client relationship or make use of services provided with or by the aforementioned website. 

The Financial Services Authority of Seychelles (“FSA”) is issuing a notice to its investors, licensees, and members of the general public regarding the website https://m4-platform.com/. The Authority has observed that the website and the company named "M4Markets Broker" portrayed on it are falsely claiming to be associated with an FSA licensee and to be authorized and regulated by the Seychelles Financial Services Authority under license number SD035. Please be advised that the entity is not known, does not hold a valid license, nor is it regulated by the FSA in any capacity.

The Authority urges investors and members of the general public to conduct adequate research on an entity, service provider(s), and representative prior to engaging in any business activities and/or performing any transactions involving money exchanges or exchanges of personal details. The FSA reminds the public that the Authority shall not be liable should persons continue to engage or maintain client relationship, or make use of services provided with or by the aforementioned website. 

This notice is issued by the Financial Services Authority of Seychelles (“FSA”) drawing attention to a fraudulent website https://www.fsaregulation.com/capital-markets which is presently cloning the FSA website. The FSA wishes to advise that the website is not operated by the FSA and is not linked to the FSA in any capacity.

The FSA additionally refers to a specific content on the website, of which it has been noted that the website is presently displaying a list of entities and representative which according to this website is licensed by the FSA. Members of the public are hereby advised that the FSA only on the website fsaseychelles.sc. 

Investors and members of the public are also advised that the FSA Seychelles publishes a list of licensed and regulated entities on its website which can be viewed as follows https://fsaseychelles.sc/.

Lastly, the FSA Seychelles urges investors and members of the public to undertake adequate research and evaluation on an entity, service providers, and representatives prior to conducting business and/or performing any transactions involving money exchanges or exchanges of personal details. The FSA also reminds the public that the Authority is not responsible should persons continue or maintain client relationship, or uses services provided with or by the aforementioned website.

The Financial Services Authority (“FSA/Authority”) hereby gives notice to the general public, pursuant Section 4(1)(m) of the Financial Services Authority Act, 2013 (“FSA Act”), that the Securities Dealer Licence of Leo Prime Services Limited and that of the Securities Dealer Representative Licence of Mr. Thoufique Ur RehmanMoiden Farooque have been revoked as per the requirements of Section 29(1) of the FSA Act, effective November 20th, 2024.

The Financial Services Authority (“FSA”) hereby gives notice to the general public, pursuant to section 120 (1)(a) of the Insurance Act, 2008 (Act 11 of 2008), that the above mentioned licensee, Amalga Insurance PCC Ltd (formerly known as CCS Insurance PCC Ltd) licenced on the 06^th September, 2017, has surrendered its Non-Domestic Insurer Licence pursuant to section 109 of the Insurance Act and has therefore ceased to be a licensee with the FSA.

The Financial Services Authority of Seychelles (“FSA”) is issuing a notice to its investors, licensees and members of the general public to the website "Online CFD Trading | Forex & CFD Broker | 𝐆𝐢𝐚𝐧𝐭 𝐏𝐢𝐩𝐬™". The Authority takes note that the website refers to a company named Giant Pips Ltd claiming to be authorized and regulated by the Seychelles Financial Services Authority under license number SD050. Please be advised that the entity is not known, does not hold a valid license nor is it regulated by the FSA in any capacity and the website is not linked to any entity licensed or regulated by the FSA in any capacity. 

The Authority urges investors and members of the general public to conduct adequate research on an entity, service provider(s), and representative prior to engaging in any business activities and/or performing any transactions involving money exchanges or exchanges of personal details. The FSA reminds the public that the Authority shall not be liable should persons continue to engage or maintain client relationship or make use of services provided with or by the aforementioned website.

This notice is issued by the Financial Services Authority of Seychelles (“FSA”) drawing attention to the website:  https://www.cm-tradingpro.com/">https://www.cm-tradingpro.com/ and the fact that the website is not linked to any entity licensed or regulated by the FSA in any capacity.

Furthermore, the FSA Seychelles urges investors and members of the public to exercise adequate research and evaluation on an entity, service providers, and representatives prior to conducting business and/or performing any transactions involving money exchanges or exchanges of personal details. The FSA also reminds the public that the Authority is not responsible should persons continue or maintain client relationship, or uses services provided with or by the aforementioned website.

The Financial Services Authority (“FSA/Authority”) hereby gives notice to the general public, pursuant Section 4(1)(m) of the Financial Services Authority Act, 2013 (“FSA Act”), that the Securities Dealer Licence of Triumph Int. (SC) Limited and that of the Securities Dealer Representative Licence of Mr. Christroforos Christoforou have been revoked as per the requirements of Section 29(1) of the FSA Act, effective November 7^th, 2024.

Furthermore, the fit and proper status of Mr. Joel Prakash Benedict as the Director of Triumph Int. (SC) Limited and the fit and proper status Mr. Christoforos Christoforou  as the Director and Securities Dealer Representative of Triumph Int. (SC) Limited have been removed  effective immediately.

The Financial Services Authority (“FSA/Authority”) hereby gives notice to the general public, pursuant Section 4(1)(m) of the Financial Services Authority Act, 2013 (“FSA Act”), that the Securities Dealer Licence of OTEX UNIVERSAL HOLDINGS LIMITED and that of the Securities Dealer Representative Licence of Mr. Dakis Leontiou have been surrendered as per the requirements of Section 30(1) of the FSA Act, effective November 7th, 2024.