{"id":268477,"date":"2024-02-13T08:10:46","date_gmt":"2024-02-13T07:10:46","guid":{"rendered":"https:\/\/brpsa.com\/?post_type=project&#038;p=268477"},"modified":"2024-02-13T12:06:23","modified_gmt":"2024-02-13T11:06:23","slug":"seychelles-cm-pb-update-2024","status":"publish","type":"project","link":"https:\/\/brpsa.com\/notifications\/seychelles-cm-pb-update-2024\/","title":{"rendered":"Seychelles &#8211; CM PB &#8211; Update 2024"},"content":{"rendered":"\n<p><strong>Country Manuals Private Banking <\/strong>&#8211;<\/p>\n\n\n\n<p>Dear Client,<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>We would like to inform you that BRP has updated its <strong><a href=\"https:\/\/brpsa.com\/cross-border-country-manuals\/#CM\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-luminous-vivid-amber-color\">COUNTRY MANUAL PRIVATE BANKING<\/mark><\/a><\/strong> for the following jurisdiction:<\/p>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>SEYCHELLES OUT OF BANK\u2019S COUNTRY OF ESTABLISHMENT (Def, RS, BT &amp; RT)<\/strong><\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th><mark style=\"background-color:rgba(0, 0, 0, 0);color:#8db1aa\" class=\"has-inline-color\">SOURCE OF CHANGES<\/mark><\/th><th class=\"has-text-align-center\" data-align=\"center\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#8db1aa\" class=\"has-inline-color\">ANSWERS<\/mark><\/th><\/tr><\/thead><tbody><tr><td><strong>Law \/ Regulation<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-green-cyan-color\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-luminous-vivid-orange-color\">NO<\/mark><\/strong><\/mark><\/strong><\/td><\/tr><tr><td><strong>New Position of the Authorities<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-luminous-vivid-orange-color\">NO<\/mark><\/strong><\/td><\/tr><tr><td><strong>Evolution of Expert\u2019s interpretation<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-luminous-vivid-orange-color\">NO<\/mark><\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Regulatory Template, Regulatory Summary and Behaviour Template<\/strong><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-luminous-vivid-amber-color\">Material changes<\/mark><\/strong><\/p>\n\n\n\n<p>The documents have been reviewed following consultation with our local counsel. We can confirm that there have been no relevant regulatory changes since the last publication of this Country Manual., with the exception of The Consumer Protection Act, 2010, which has now been repealed and .replaced by the Fair Trading Act 2022.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-luminous-vivid-amber-color\">Non-material changes<\/mark><\/strong><\/p>\n\n\n\n<p>Several comments have been slightly reworded (without introducing material changes) to reflect the regulatory situation\/current interpretation of the regulatory framework more accurately.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-luminous-vivid-amber-color\">Implications for business relations with third parties<\/mark><\/strong><\/p>\n\n\n\n<p>The documents having been reformatted onto the latest template, this section now provides for more answers, better distinguishing between the provision of documentation to the EAM for its own use and provision of documentation for its subsequent distribution to end-clients.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Regulatory Summary<\/strong><\/p>\n\n\n\n<p><em>This document has now a more user-friendly layout and reflects the changes contained in the RT<\/em><em>.<\/em><em><\/em><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>BT Short Comparison<\/strong><\/p>\n\n\n\n<p>BRP has created a comparison document allowing users to quickly identify the modifications made compared to the previous version of the PB Manual (BT Short Comparison). The BT Short Comparison can be found on BRP\u2019s platform (<a href=\"http:\/\/www.mybrponline.com\">mybrponline<\/a>) in the Search tab by entering in the Document Field \u201cCM PB BT SHORT COMP\u201d and \u201c<strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-luminous-vivid-amber-color\">SEYCHELLES<\/mark><\/strong>\u201d in the Target Country Field.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong><em>The BT Short Comparison should be read as follows:<\/em><\/strong><\/p>\n\n\n\n<p>The first column contains a short description of the activity in question. The second column contains the answers of the previous version of the Country Manual (online until the day of the alert). The third column contains the new answers of the most recent version of the Country Manual. Only the modified answers are displayed (in color). If the answers in the new version are unchanged compared to the previous version, they are shaded in grey.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>For more information, please contact us: <a href=\"mailto:info@brpsa.com\">info@brpsa.com<\/a><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Best regards,<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Country Manuals Private Banking &#8211; Dear Client, We would like to inform you that BRP has updated its COUNTRY MANUAL PRIVATE BANKING for the following jurisdiction: SOURCE OF CHANGES ANSWERS [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":259378,"comment_status":"open","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"iawp_total_views":1,"footnotes":""},"project_category":[786,71],"project_tag":[758,220],"class_list":["post-268477","project","type-project","status-publish","has-post-thumbnail","hentry","project_category-786","project_category-crossborder_alert_and_brp_tax_alerts","project_tag-private-banking","project_tag-seychelles"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.7 (Yoast SEO v26.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Private Banking in Seychelles: Uncovering Regulations in 2024<\/title>\n<meta name=\"description\" content=\"Stay up-to-date with the latest Seychelles regulations on Private Banking with BRP&#039;s latest Country Manual.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/brpsa.com\/notifications\/seychelles-cm-pb-update-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seychelles - CM PB - Update 2024\" \/>\n<meta property=\"og:description\" content=\"Stay up-to-date with the latest Seychelles regulations on Private Banking with BRP&#039;s latest Country Manual.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/brpsa.com\/notifications\/seychelles-cm-pb-update-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"BRP\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-13T11:06:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/brpsa.com\/wp-content\/uploads\/2022\/11\/Seychelles-CM-PB-e1707822228408.png\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"376\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/brpsa.com\/notifications\/seychelles-cm-pb-update-2024\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/brpsa.com\/notifications\/seychelles-cm-pb-update-2024\/\"},\"author\":{\"name\":\"Claire Capdevielle\",\"@id\":\"https:\/\/brpsa.com\/#\/schema\/person\/5a814bced5b15ebe175b18458b9c3872\"},\"headline\":\"Seychelles &#8211; 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