EXCHANGE
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REGULATION
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SUMMARY

Regulation

Overview

The Government of Seychelles and its regulators are committed to maintaining the integrity of the jurisdiction. Seychelles legislation (Securities Act 2007, National Payment Systems Act 2014 and Anti-Money Laundering Act 2006) is in line with prevailing international norms and meets minimum requirements laid down by global standard setting bodies such as the Financial Action Task Force (FATF) and Organization for Economic Cooperation and Development (OECD). As such, Seychelles is in good standing with these standard-setting bodies and has never been on a published 'blacklist' by any of these bodies.

The Seychelles Securities Act 2007 and National Payment Systems Act 2014 along with subsequent regulations provides a clearly defined legal framework in line with international best practices to underpin regulation of MERJ EXCHANGE markets. The MERJ rules framework builds upon this legal framework and provide a simplified and clearly defined framework using industry best practice principles. MERJ operates within an orderly and transparent market structure designed to instill confidence to our listed issuers, Members, participants and the investment community.

The MERJ Exchange Regulation Division oversees market activities to monitor and enforce adherence to prevailing laws and regulations that govern the behaviour of:

  • Members
  • Direct ATS Participants
  • Issuers
  • 'Affect Persons'

MERJ group companies are licensed and regulated by the Financial Services Authority and Central Bank of Seychelles.

MERJ Exchange Limited is licensed pursuant to the Securities Act 2007 as an operator of a securities exchange. MERJ EXCHANGE has published Listing Rules and Market Rules, which collectively prescribe the regulations governing participation and activities in the markets operated by MERJ.

MERJ Clearing and Settlement Limited (MERJ CLEAR) is licensed clearing agency pursuant to the Securities Act 2007 and an authorized operator of a securities clearing and settlement system pursuant to the National Payment Systems Act 2014. MERJ CLEAR has published Clearing Agency Rules that govern participation and activities of the clearing and settlement system. For more information on MERJ CLEAR and its regulatory framework see (link to MERJ CLEAR' page under Post Trade).

MERJ Depository and Registry Limited (MERJ DEP) is a licensed securities facility pursuant to the Securities Act 2007. MERJ DEP has published Securities Facility Rules that govern participation and activities around its registry services and depository services. For more information on MERJ DEP and its regulatory framework see (link to MERJ DEP' page under Post Trade).

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Issuer Regulation

Learn more about the MERJ EXCHANGE Issuer Regulation

Member Regulation

Learn more about the MERJ EXCHANGE Member Regulation

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