Scam Alert: LELMM GLOBAL

This notice is issued by the Financial Services Authority of Seychelles (“FSA”) drawing attention to the following website: https://lelmm.com/ and the fact that contrary to what is being mentioned on this website’s User Agreement, the entity known as LELMM GLOBAL is not licensed nor regulated by the FSA in any capacity. Details on the website are as follows:

Website: https://lelmm.com/

LELMM GLOBAL does not hold a valid license of any type from the FSA Seychelles. The entity is not regulated by the FSA Seychelles, nor has it been in the past.

The FSA Seychelles urges investors and members of the public to exercise extreme caution in respect of LELMM GLOBAL.

The Financial Services Authority

Consumer Education - Pyramid Schemes

Pyramid Schemes

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Revocation of the securities dealer licence (Licence number SD014) of Aronex Corporation Ltd.

The Financial Services Authority hereby gives notice to the general public, pursuant to section 28(2)(c) of the Financial Services Authority Act, 2013 (“FSA Act”), that the securities dealer licence held by Aronex Corporation Ltd has been revoked pursuant to section 29(1) of the FSA Act, effective January 21st, 2021.

Therefore, note that effective January 21st, 2021, Aronex Corporation Ltd no longer holds the above mentioned licence.

Financial Services Authority
Bois De Rose Avenue
P.O Box 991
Victoria, Mahe
Seychelles

National Anti-Money Laundering and Countering the Financing of Terrorism Committee holds second meeting

The National Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Committee, has started work towards its objective of strengthening the Seychelles’ AML/CFT framework.

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Scam Alert: Axis Market FX

This notice is issued by the Financial Services Authority of Seychelles (“FSA”) drawing attention to the following website: https://axismarketfx.com/ and the fact that contrary to what is being advertised on this website, the entity known as Axis Market FX. is falsely advertising that they are licensed and regulated by the FSA to conduct business as a Securities dealer. Details on the website are as follows:

Website: https://axismarketfx.com/

Type of licence: Securities Dealer

Axis Market FX. does not hold a valid license of any type from the FSA Seychelles. The entity is not regulated by the FSA Seychelles, nor has it been in the past.

The FSA Seychelles urges investors and members of the public to exercise extreme caution in respect of Axis Market FX.

The Financial Services Authority

November 09th, 2020

Circular No 13 of 2020 – Acceptance of digitally signed documents

This Circular is being issued with the aim of notifying all stakeholders of the Financial Services Authority’s (“the Authority”) acceptance of electronic documents that have been digitally signed, in accordance with the Seychelles’ legislations.

The Electronic Transactions Act, 2001 provides the framework for the authentication of documents by affixing of digital signatures and the Electronic Transactions (Affixing of Digital Signature) Regulations, 2018 stipulates the requirements for foreign authorities to be recognized as Certifying Authorities. The Recognition of Foreign Certifying Authorities’ Notice published in the Official Gazette on the 14th October, 2019 provides for the list of Certifying Authorities recognized by the Controller of Certifying Authorities.

 

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Approved Outsourced Service Providers

The Financial Services Authority (“the Authority”), further to publishing the Acceptance of Notice of Intent to become an Approved Service Provider on the 27th of February, 2020, would like to notify its licensees that the details of the approved individuals can be viewed on the Authority’s website following the link:  http://www.fsa.sc/regulated-entities/capital-markets/approved-outsource-providers

The Authority would like to relay to the general public that it is still accepting applications from individuals who wish to be approved as outsourced service providers.

The Financial Services Authority

Alert: Online Promotional Advertisements relating to former licensee, Valsen Fiduciaries (Seychelles) Limited

It has come to the attention of the Financial Services Authority (“FSA”) of a website by the name of “Company Formation Seychelles” (www.companyformationseychelles.com) that is advertising the Seychelles’ trust and company services in connection with a former licensee, Valsen Fiduciaries (Seychelles) Limited (“Valsen”).

The FSA wishes to remind the public that all of the licences previously held by Valsen as issued by the FSA, namely the international corporate services, international trustee services and foundation services, have been revoked effective January 8th, 2020.

The FSA strongly urges the public to exercise caution in respect to the services advertised on third party websites, unaccredited or certified by the FSA.

The Financial Services Authority

Acceptance of Notice of Intent to become an Approved Service Provider

The Financial Services Authority (“the Authority”), would like to notify the general public of its acceptance of notice for outsourcing of compliance from individuals who intend to become an approved service provider for licensees under the Securities Act, 2007 and Mutual Fund and Hedge Fund Act, 2008.

This notice coincides with the publication of the “Code on Outsourcing of Compliance Function” whereby the Authority wishes to encourage the submission of applications from individuals who are prepared to conduct this function as a third party.

Any individual who wishes to be approved to undertake this function may forward their notice to the Authority. If approval is granted, the service provider’s information will be listed on the website to ease the identification of already approved service providers by licensees.

The notification form (Appendix 1 of the Code) must be submitted along with the Personal Questionnaire Form, completed by the proposed service provider. This is an effort to increase access to qualified individuals to undertake the compliance function of licensees.

The Financial Services Authority

Notice for the cessation of non-domestic insurance business of SRS Insurance Company Limited (License number 0001)

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, SRS Insurance Company Limited on the 31st August 2020, has surrendered its licence pursuant to section 109 of the Insurance Act and has therefore ceased to be a licensee with the FSA.

Financial Services Authority
Bois De Rose Avenue
P.O Box 991
Victoria, Mahe, Seychelles

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Victoria, Mahe, Seychelles

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