Financial Services Authority satisfied with ICA exam results |29 August 2018

The Financial Services Authority (FSA) in collaboration with the International Compliance Association (ICA) recently organised a three-day workshop on regulatory compliance and is satisfied with the exam results.

A total of 96 participants sat for the exams, and an overall pass rate of 97% was recorded of which 25% of the participants obtained a distinction, 31% a merit and 41% a pass.

The excellent results reflect the efforts towards ensuring consistent adherence to requirements of International Standards and Regulation to safeguard Seychelles’ credibility as a financial services jurisdiction of good repute and value within the realm of the African continent.

“The willingness to learn and to develop capacity at a professional level is proof of the dynamism of our financial services,” the FSA has said.

The course is the first of its kind to be conducted in Seychelles. Participants from the Financial Services Sector participated in the course which included staff from the FSA, the Financial Intelligence Unit (FIU), various service providers and insurance firms.

The workshop focused on different aspects of international legislations and best practice developments, the key compliance activities and processes which prevails, and other key compliance areas such as anti-money laundering frameworks, risk management and the prevention of financial crimes.

The training programme is the start of many more exciting collaborations that is envisaged for the future with ICA.

The FSA, as a regulatory authority remains committed to maintaining a high level of service standard and compliance within the field of financial services in the industry. Efficacy in the services of our industry hinges greatly on solid knowledge and experiences of our local professionals.

It is understood that the authority will continue working in close collaboration with local professional development institutions like the Guy Morel Institute and University of Seychelles, to create the foundation needed and support to ensure that professionals within the industry and also those interested in joining the industry have ready access to an array of development trainings and professional qualifications which will contribute greatly in boosting the successful growth of our industry.

Due to the high demand and in an endeavor to continuously invest its efforts to support and enable such professional developments for the country, the FSA will be running another cohort of the ICA Certificate in Compliance course next month.

Later this year, it is anticipated that an ICA certificate in Anti-Money Laundering (AML) course will be programmed and scheduled to begin in October, 2018. 

The ICA certificate in Anti-Money Laundering course is another recommended course for the financial services industry and it is aimed at further solidifying a strong base in terms of knowledge within this area of expertise.  

Individuals who are successful in acquiring the ICA certificate in Compliance and/or Anti-Money laundering can in the future confidently gravitate towards the higher level diploma courses in Compliance and Corporate governance, which are options of courses being targeted for the near future.