What is Mauritius Financial Services Commission (FSC)? Mauritius Financial Services Commission (FSC) Review, Features

What is Mauritius Financial Services Commission (FSC)? Mauritius Financial Services Commission (FSC) Review, Features

The Financial Services Commission of Mauritius (FSC) is the integrated regulator of the non-bank financial services sector and global businesses.

About the Financial Services Commission (FSC) of Mauritius

  • The FSC was established in 2001 and is authorized by the Financial Services Act 2007 and has the Securities Act 2005, the Insurance Act 2005, the Private Pension Schemes Act 2012 and the Virtual Asset and Initial Token Offering Services Act 2021 to license, regulate, monitor and oversee business activities in these industries.
  • In carrying out its mission, the Agency aims to promote the development, fairness, efficiency and transparency of financial institutions and capital markets in Mauritius; combat crime and misconduct and provide protection to the public investing in non-bank financial products; and ensure the integrity and stability of the Mauritian financial system.

Mauritius Financial Services Commission (FSC) Regulatory Approach

The HKMA regularly strengthens its supervisory framework to meet international challenges, promote strict supervision of its licensees, safeguard the public interest, foster investor confidence and ensure more effective law enforcement.

The primary objectives of the HKMA’s supervisory framework include:

  • Ensure that licensed entities comply with their legal framework and are financially sound;
  • Identify licensees engaging in activities that are illegal or contrary to the public interest so that appropriate enforcement action can be taken;
  • fostering public and investor confidence in the financial system;
  • Maintaining Mauritius’s strong reputation as an international financial centre.

The Risk-Based Supervision (RBS) framework caters for both compliance-driven and risk-based supervision and is designed to assist the FSC in:

  • Monitor the progress of licensees in their operations and compliance;
  • Identify necessary supervisory actions related to the entity’s risk profile;
  • Focus on entities whose potential failure could lead to systemic crises;
  • Identify and prioritize the use of its resources for oversight.

Vision

To be an internationally recognised financial regulator committed to the continued development of Mauritius as a sound and competitive financial services centre.


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