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The Financial Securities Authority (“FSA”) in Seychelles has informed its Licensees that it is in the process to update the Securities Dealer Licence and Conditions to the Licence Certificate for its Licensees. The Conditions to the Licence certificate shall now also include the permitted activities of each licensee.

As per Section 45(5) of the Consolidated Securities Act, 2007, a Securities Dealer Licensee (whether acting as principal or agent) can carry on business by performing the below:

  1. To make or offer to make an agreement with another legal person to enter into or offer to enter into an agreement, for or with a view to acquiring, disposing of, subscribing for or underwriting securities or in any way that effects or causes to effect a securities transaction.
  1. Without limiting the generality of the above point, to cause any sale or disposition of or other dealing or any solicitation in respect of securities for valuable consideration, whether the terms of payment be on margin, instalment or otherwise or any attempt to do any of the foregoing.
  1. To participate as a securities dealer in any transaction in a security occurring upon a securities exchange.
  1. To receive as a securities dealer under an order to buy or sell a security which is executed.
  1. To manage a portfolio of securities for another Company on terms under which the first mentioned Company may hold property of the other.

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