Amendments to the Financial Services (Special Purpose Fund) Rules 2021
The Financial Services (Special Purpose Fund) Rules 2013 applicable to collective investment schemes and closed-end funds (schemes) authorised by the FSC were recently revamped on 6 March 2021 by the proclamation of the Financial Services (Special Purpose Fund) Rules 2021 (the Rules). The regime was designed for schemes which sought to be treated as non-resident in […]
Amendments to the Securities (Preferential Offer) Rules 2017
Private placements of equity securities or debt securities in Mauritius were not subject to any legislative framework until fairly recently. In contrast, public offers of these securities are regulated since the early 2000s by the Securities Act 2005, the Securities (Public Offers) Rules 2007 and, depending on which securities exchange they are listed, the Listing […]
The Evolution of the Global Business Sector in Mauritius and Impending Changes in June 2021
The global business sector was established in the early 1990s to attract foreign investment into Mauritius and has gradually become one of the pillars of the economy today. The initial regime introduced by the Mauritius Offshore Business Activities Act 1992 allowed offshore corporations and trusts to carry out offshore business activities such as offshore insurance, […]
Changes to the FSC Handbook on AML/CFT
5 ways Mauritius enhanced its AML/CFT framework for financial services in the last year
This article summarises the main legislative changes that have been introduced since the grey-listing of Mauritius in March 2020. 1. New legislation The Anti-Money Laundering and Combatting the Financing of Terrorism (Miscellaneous Provisions) Act 2020 (the “AML/CFT Act”) was enacted in July 2020. Some of the main changes it brought include the following. Persons seeking […]
The COVID-19 Act: An Overview for Businesses
