The Seychelles Financial Services Authority (FSA) has issued new guidelines on beneficial ownership to enhance transparency and compliance in its financial sector. These guidelines are designed to help financial institutions and other entities identify and report the individuals who ultimately own or control a business. This move is part of Seychelles' ongoing efforts to combat money laundering and terrorist financing by ensuring that accurate and up-to-date information on beneficial ownership is available.

The updated guidelines include detailed procedures for verifying the identity of beneficial owners, maintaining accurate records, and reporting suspicious activities. The FSA emphasizes the importance of these measures in promoting a secure and trustworthy business environment. By aligning its regulations with international standards, Seychelles aims to attract legitimate business and investment while deterring illicit activities.

These guidelines also underscore the FSA's commitment to international cooperation in financial regulation. By adopting robust beneficial ownership rules, Seychelles strengthens its reputation as a responsible financial center. The new regulations are expected to enhance the integrity of the financial system, providing greater confidence to international investors and stakeholders. The full guidelines are available on the FSA’s official website, providing comprehensive information for entities required to comply with these new regulations.