Financial Services Commission
Regulator of non-bank financial institutions
The Financial Services Commission (FSC) was established as the regulator for the non-bank financial services sector under the Financial Services Development Act 2001. The FSC is the integrated regulator for the industry and its remit encompasses those of the former regulatory bodies for securities (Stock Exchange Commission), insurance (Insurance Division of the Ministry of Economic Development, Financial Services and Corporate Affairs) and global business (Mauritius Offshore Business Activities Authority).
The Commission thus licenses, regulates and supervises non-bank financial institutions in Mauritius.
The non-bank financial sector includes institutions involved in Insurance & Pensions, Capital Market operations, Leasing & Credit Finance as well as Global Business activities.
The FSC is also committed to the sustained development of Mauritius as a sound, stable and competitive international financial services centre. Consequently, the Commission promotes the development, fairness, efficiency and transparency of non-bank financial institutions and capital markets in Mauritius whilst ensuring the protection of investors.
Amongst others, the FSC regulates Investment Schemes i.e organised financial arrangements that consolidate investor funds for the purpose of acquiring financial assets such as Global Business funds and other Collective Investment Schemes, Pension and Equity funds, Unit trusts and Authorised mutual funds.
Press release
LE MATINAL (10 September 2010):
Maurice is not concerned.
"Maurice is not concerned", said Kamal Hawabhay, president of the Association of Trust & Management Companies (ATMC). This statement follows a recent article published in an Indian newspaper, which calls into the question the double tax treaty (DTAA) between Mauritius and India.
LE DEFI QUOTIDIEN (13 August 2010):
Selon l'Association mauricienne des compagnies offshore, le traité Inde/Maurice revue de sitôt.
Kamal Hawabhay, président de l'Association of Trust & Management Companies (ATMC), est catégorique. Les autorités indiennes ne comptent pas revoir de sitôt le traité fiscal liant l'Inde à Maurice, dit-il.